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 Post subject: Rentals
PostPosted: June 6th, 2012, 10:37 am 
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Joined: September 9th, 2008, 4:15 pm
Posts: 124
Good Morning All,
Hope some one can help. The rental companies who rent out your apartment, do they have to pay a 21% tax on the rental money b4 they give you your rental?
What is this tax? I thought the Owner had to pay for the rental income not the agent who rents the apartment for you.
Help please.
Simu


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 Post subject: Re: Rentals
PostPosted: June 8th, 2012, 12:18 am 
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Joined: June 25th, 2008, 6:39 pm
Posts: 1175
Location: Carmarthen, south west Wales / Santa Maria di Ricadi, Capo Vaticano
Hi Simu,
The owner should pay income tax on the rental income he receives.
The rental companies should also pay income tax on their income (what they charge for their services).
I am not aware that they pay income tax on your behalf before they pay you. Is the figure of 21% you mentioned the rental companies rate for renting the apartment plus other services?
davidnam


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 Post subject: Re: Rentals
PostPosted: June 8th, 2012, 9:29 am 
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Joined: September 9th, 2008, 4:15 pm
Posts: 124
Hi Davidnam,
Thats what I thought but this is what this guy is saying: "For any rental, as I have to invoce to customer, we pay then 21% tax in that amount." I meran if this guy is paying 21% on the total rental & then I pay the bills & tax etc its not worth me renting. I wish someone could clarify this.
Simu


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 Post subject: Re: Rentals
PostPosted: June 8th, 2012, 2:29 pm 
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Joined: March 21st, 2008, 3:59 pm
Posts: 213
Hi Simu,
Maybe I'm getting completely the wrong end of the stick here, but if you are the owner, and he is only acting as middle man in accepting rental income on your behalf, then how can he possibly be claiming that he has to pay tax on it? It's not his income! Is it an option for you to get renters to pay you direct and therefore you know exactly how much is coming in and when, and all you have to pay him for are his services for looking after the apartment?


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 Post subject: Re: Rentals
PostPosted: June 8th, 2012, 5:33 pm 
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Joined: June 25th, 2008, 6:39 pm
Posts: 1175
Location: Carmarthen, south west Wales / Santa Maria di Ricadi, Capo Vaticano
Hi Simu,
I guess that as he is invoicing the clients directly he has to pay the going rate of tax on that income. It maybe that they can offset what he gives to you as owner against his invoice, or altenatively you can state that tax has already been paid on your rental income if or when you file your Italian Tax Return. I am not convinced that this is the best way, I am just postulating that it may be possible to do it this way.
As stated by dgrcgl29, you should arrange that you receive the rental income directly and only pay your agent for what they do. This way everything is transparent and you will know what you are paying for. You should be able to offset your agent's cost against your rental income.
Who is your agent and are there others out there with the same problem?
I do not use an agent and advertise on a number of portals and get my income direct from renters. Doing it this way I will have to sort out my Italian Income tax myself through an Italian accountant. At least this way I know I am not being taken for a ride!
davidnam


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 Post subject: Re: Rentals
PostPosted: June 8th, 2012, 6:36 pm 
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Joined: September 9th, 2008, 4:15 pm
Posts: 124
davidnam wrote:
Hi Simu,
I guess that as he is invoicing the clients directly he has to pay the going rate of tax on that income. It maybe that they can offset what he gives to you as owner against his invoice, or altenatively you can state that tax has already been paid on your rental income if or when you file your Italian Tax Return. I am not convinced that this is the best way, I am just postulating that it may be possible to do it this way.
As stated by dgrcgl29, you should arrange that you receive the rental income directly and only pay your agent for what they do. This way everything is transparent and you will know what you are paying for. You should be able to offset your agent's cost against your rental income.
Who is your agent and are there others out there with the same problem?
I do not use an agent and advertise on a number of portals and get my income direct from renters. Doing it this way I will have to sort out my Italian Income tax myself through an Italian accountant. At least this way I know I am not being taken for a ride!
Thanks David & dgrcg29, such wonderfull people on this forum.
After reading your reply David I rang the guy & explained to him that why should he pay tax on my rental income, I should pay on my income & he should pay on his 30% that he charges me for his income. So he said he understands where I am coming from. I told him to speak to some1 & let me know. I've just been lazy & should advertise myself like you suggested.
My agent works in Rome so this renting he does as a side business, so its not a proper rental company, his brother lives in Falerna on the west coast so he deals with cleaning & keys etc. What % do you pay for the services etc for your rentals?
A big thank you guys.

davidnam


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 Post subject: Re: Rentals
PostPosted: June 9th, 2012, 11:06 pm 
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Joined: June 25th, 2008, 6:39 pm
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Location: Carmarthen, south west Wales / Santa Maria di Ricadi, Capo Vaticano
Hi Simu,
I will pm you.
davidnam


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 Post subject: Re: Rentals
PostPosted: June 10th, 2012, 2:12 pm 
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Joined: September 9th, 2008, 4:15 pm
Posts: 124
Hi David, I got your PM, even I dont know how to send one. Once I work it out will PM you. Your way is much better.
simu


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