The introduction of new legislation increasing (sometimes doubling) sanctions for tax evasion related to illegal export of funds and undeclared foreign assets, has been the opportunity to introduce a second tax amnesty in Italy after the earlier 2001 disclosure facility. (Read article)

The worst possible scenario for the parties to an Italian property deal was revisited and considered in great detail in a recent decision of the Italian Supreme Court (Suprema Corte di Cassazione).

Because of the way this matter was referred to the Italian Supreme Court, the special composition of the Court making this judgment, and recent legislation, this decision is bound to become an almost binding precedent, in Italy. (Read article)

With property prices reputed to have fallen through Italy (on average: -18% in Florence and Turin and -16% in Rome, followed by similar reductions throughout Italy) and corresponding reductions in the rental market, the Italian Government has launched a raft of legislation aimed at protecting property owners from the worst ravages of the credit crunch. (Read article)

Recent Italian legislation has addressed the problem of buildings or extensions which are not registered at the Local Land Registry (Catasto) and thus evade Italian property taxes. The problem with this legislation is that it may catch innocent foreign buyers, who having bought a defective property are totally unaware that their villa is an abuse and a form of tax evasion in Italy. In these cases immediate action is always recommended. (Read article)