Attentive readers will recall that as of January this year, the property tax ICI was replaced by a new tax, IMU. One difference is that the reduced rate of IMU (basically that for the prima casa) will apply “to only one property unit”.
Alert for all those resident in Italy with property or financial interests overseas. The Italian tax authorities have introduced two new taxes on overseas assets: one is on property, so is bound to catch any foreign nationals who maintain properties “back home”.
IMU – nothing to do with Rod Hull – just our old friend ICI under a new name. The change comes into force from January 2012. This municipal tax will now be due on all houses, including main residences, prima casa, holiday homes etc.. That means if you own any property in Italy you will now need to pay the new IMU.