Tax deductions for renovation works in Italy

6 Types of Tax Deductions for Renovation Works

Have you long been wishing to rebuild or renovate your home? Update it to the anti-seismic regulation? Make changes in your garden? You will find in this article a complete presentation of the bonuses available in Italy this year, 2020, along with a detailed list of the requirements and ways of using them. This will allow you to have tax deductions of 50% to 80%, depending on the requirements met. The tax deductions will be dispensed through reimburses to be discounted from future taxes, in several annual rates.

For example, one of our clients carried out renovation works on his home amounting to €60, 000 and he acquired €10,000 of furniture. He was able to use both the Restructuring bonus and the Furniture bonus, obtaining a total tax deduction of €35,000 (50% of €70,000), discounting this from future taxes, in 10 annual installments of €3,500 per year.

This article was originally published in Tuscany’s Grapevine Magazine with the title Taxes in Italy: deductions for renovation works.