The wonderful world of the land registry

  • 03/06/2022

The Italians find themselves facing a new sore subject: the land registry reform.

What impact will the reform have on the pockets of Italians?

The fear that the introduction of a property tax is hidden behind the "transparency operation" is palpable.

Let's try to understand what the bill foresees and to outline some future scenarios.

The delegation to the government for the reform of the land registry and the tax authorities has a duration of 18 months and has the following objectives:

  • rationalize the system
  • foster economic growth
  • to align the taxation of business income with that of capital income
  • contrast tax evasion and avoidance
  • reduce the tax burden on labor reform the collection system

Here are the key points of the reform:

  • modernization of the mapping tools of ghost properties (illegal properties, not registered or buildable but registered as agricultural)
  • updating of historical-artistic property values ​​and rents
  • revision of the buildings cadastre
  • gradual reduction of the average IRPEF rates, with a consequent benefit on income from work replacement of the additional municipal and regional personal income tax with equivalent surcharges
  • reorganization of deductions and deductions
  • changes to the VAT regime
  • simplification of IRES
  • gradual overcoming of IRAP transformation of the IMU into an exclusively municipal revenue

Now, that the Italian land registry remembers the circles of Dante's Inferno is well known, so we would all be happy if from 1 January 2026 we could deal with a rational system.

What arouses some suspicion is the effect of the revaluation of annuities, effectively misaligned with respect to the market, on the tax levy.

Although, in fact, the bill expressly states that it will not change the tax base of taxes relating to cadastral values, annuities and assets, some believe that the law wants to give the government a blank mandate to increase property taxes. .

Posterity will judge.

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