The Unlock Italy Decree landed yesterday at the House for general discussion and examination is in full swing today. The highlights of measures modified at the Parliament’s Environment Commission include a VAT cut from 10% to 4% for building renovation works. Renovation works – which already profit from the "ecobonus" pending confirmation for 2015 too, with the Stability Law (50% tax credits for building renovation and 65% for energy efficiency improvement) – will be subject to the 4% VAT rate. To offset the lower collections, a reverse VAT increase is planned (from 4% to 10%) on purchases of new buildings directly from the construction company. In addition to the VAT rate decrease on renovations, IRPEF (personal income tax) also helps the estate market: the 20% IRPEF deduction on the expense for purchasing a home is no longer subject to lease of the property at regulated rent for 8 years.

The Unlock Italy Decree landed yesterday at the House for general discussion and examination is in full swing today. 

The highlights of measures modified at the Parliament’s Environment Commission include a VAT cut from 10% to 4% for building renovation works. 
Renovation works – which already profit from the "ecobonus" pending confirmation for 2015 too, with the Stability Law (50% tax credits for building renovation and 65% for energy efficiency improvement) – will be subject to the 4% VAT rate. To offset the lower collections, a reverse VAT increase is planned (from 4% to 10%) on purchases of new buildings directly from the construction company.

In addition to the VAT rate decrease on renovations, IRPEF (personal income tax) also helps the estate market: the 20% IRPEF deduction on the expense for purchasing a home is no longer subject to lease of the property at regulated rent for 8 years.