Info Tax no. 20, October 2011
Recent changes in the Fiscal code increase the tax rate on buildings owned by companies, should the buildings, other than those acquired in the last 3 years before the current year or during the current year, have not been revaluated in these 3 years preceding the current year.
Starting 1 January 2012, the tax rate increases for these buildings, being thus established between 10% and 20% of their gross book value. For the sake of clarity, under the current regulations in force until 31 December 2011, the tax rate applicable to the buildings in discussion is between 5% and 10% of their gross book value.
Also with application from 1 January 2012, a higher tax rate between 30% and 40% of the gross book value is introduced for buildings that have not been revaluated in the last 5 years preceding the current year.