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Repealed assessment based to the normal value on sales of real estate. Has come, the definitive green light to the House bill, already approved by the Senate, then amended by the House and then amended by the Senate on Arrangements for the fulfillment of obligations arising from Italy's membership of the European Communities - Community Law in 2008, which confirmed the elimination of provisions relating to buying property on the assessment according to the normal value of buildings sold, and VAT for income taxes, which was introduced by. 35, paragraphs 2-3, DL 223/2008, converted with amendments by Law 248/2006 (Visco-Bersani Decree).

Pending publication in the Official for the entry into force of the measure, we recall that this result was achieved thanks to the formal complaint to the European Commission dall'ANCE, where there is evidence that the rules infringe on the normal value Directive 28 November 2006 n.2006/112/CE - Council Directive on the common system of value added tax, according to which the tax base consists of the agreed fee, coinciding with the one set out in the invoice and not a value statistically as quotations OMI

We recall also that the complaint of ANCI is followed by a Community infringement procedure against Italy, which necessarily had to re-align its legislation with European rules.
We recall that Article 35, paragraphs 2-4 and 23a of the Decree-Law No 223/2006 (Decree "Visco-Bersani, converted with amendments into Law No. 248/2006) had described the possibility of proceeding to the adjustment of VAT returns and income tax, if it is established that the value of transfer of immovable property is not in a certain market value thereof, in the case, then, to transfer property financed by mortgage or bank financing, the market value can not be less than the amount of the loan or financing. Following the Law 248/2006, has intervened on the Law 296/2006 (Finanziaria 2007) of Article 1, paragraph 307, for the determination of normal value has returned to a specific measure of the Director of Revenue of the periodic identification of the criteria useful for the determination of that value, the purposes of VAT in respect of registration and taxation.

By Order of the Director of Revenue of 27 July 2007 containing "Provisions relating to identification of useful criteria for determining the market value of the buildings referred to in Article 1, paragraph 307 of the Law of 27 December 2006, No. 296 ( Finance Act 2007). ", for the purpose of buying the property, the" value "of the buildings sold must be established on the basis of the values of the Market of Real Estate, Land and factors responsible for the characteristics that affect the value of the property, complemented by other information in possession of.

With the 2008 Budget (Act 244/2007, Art. 1, paragraph 265) also found these provisions were extended to sales made before 4 July 2006, giving, in this case, value of mere presumption deviation between the value normal amount stated in place.

With the final approval of the Community law in 2008, the reference to the normal value was deleted from both .54, paragraph 3 of the DPR 633/1972 (for VAT), and from .39, comma 1, lett. d, the D.P.R. 600/1973 (for the purposes of income taxes). With the result that any differences between the proceeds of sale and the value will be a mere presumption, which can no longer justify automatic inspection on the part of the business.

Finally, it also repealed Article 35, paragraph 23 bis of Law 248/2006, which, for VAT purposes, in the case of transferring property financed by mortgage or bank financing, the market value can not be less than the amount of the loan or financing.