Buying a house is one of the most important economic transactions in a person’s life. Purchase proposal, preliminary contract, deposit, mortgage, deed … many operations, rules, checks, documents, commitments, types of purchase. From the very first step, it is advisable to have a notary by your side, so that he can protect you and advise you on how to carry out the entire process in total safety.
A loan agreement with a bank for a period exceeding 18 months may be subject to tax reductions in respect of indirect taxes. Let’s see how:
In both cases, the bank acts as a withholding agent for the government and then pays the money directly to the Treasury.
The Taxation Office, following the decisive intervention of the National Council of Notaries – in order to protect the rights of citizens – has clearly stated that the presence in loan agreements of medium and long-term duration of provisions that expressly permit early termination with repayment of the debt even before the minimum period established by law (eighteen months) does not determine the incompatibility of such contracts with the favourable taxation treatment above.