ROME: The Italian Revenue Agency has revealed that the unified property tax gap – the gulf between theoretical and actual collections from the tax – amounts to about EUR4.2bn (USD4.75bn), or 18.4 percent of collections.
According to a report produced by the Revenue Agency and the Ministry of the Economy and Finance, the overall revenue generated by the unified property tax (IMU) and the new tax on general local services (TASI), which is paid by all property owners, amounted to EUR23.9bn in 2014.
This represents an increase of 17.1 percent over the previous year, but was due mainly to the introduction of TASI, which brought in EUR4.6bn. In fact, the total revenue gathered from IMU and TASI together in 2014 was roughly equivalent to the EUR23.8bn received from IMU alone in 2012.
The overall revenue collected last year from the principal taxes on the ownership, rental, and sale of real estate was EUR42.1bn, a rise of 9.8 percent over the EUR38.4bn collected in 2013, and again mainly due to the introduction of TASI.
