The Agenzia delle Entrate clarified that the right to deduct VAT when purchasing a property for tourist rentals remains valid even if the management is outsourced to a third party. The agency considers such properties as instrumental for business purposes, allowing the deduction of related taxes. The 10% VAT rate applies to vacation home rentals, even if managed by a third party, as ruled by the DPR 633/72. (Summary: 50 words)
Source: eutekne.info
Latest Posts in "Italy"
- VAT Exemption for High Seas Navigation: Conditions for Public Entity Ship Purchases
- Unregistered Purchase Invoices: Is the Right to VAT Deduction Still Valid?
- VAT Treatment for Sale of Oceanographic Vessel to Research Entity Under Italian Law
- Constitutional Court Ruling Alters Customs Confiscation Rules for Unpaid Import VAT
- Legal Requirements for Issuing Credit Notes: Clarity and Proof of Original Invoice Connection
