Our Firm provides advisory and representation services through the preparation of studies and legal opinions, as well as through expert advocacy in tax ruling procedures and at all stages of tax litigation, from the Tax Courts to national and European High Courts, with respect to real estate taxation, and more specifically in:
- the direct tax regime applicable to transfers of land and buildings, including buildings to be demolished, and the determination of fair market value;
- the VAT regime applicable to transfers of building land, non-building land, and buildings used or not used in a business activity, including options to apply VAT to transfers otherwise exempt from VAT;
- the indirect tax regime applicable to real estate transfers, including determination of market value and tax relief available for properties of historical or artistic interest;
- the tax regime applicable to the transfer of business units of real estate companies;
- the tax recharacterization of transfers of shares in real estate companies as transfers of real estate assets, and vice versa;
- the indirect tax regime applicable to assignments of receivables arising from mortgage loans and related guarantees, including take-out financing arrangements;
- the IRES and IRAP regimes applicable to real estate companies engaged in management, construction, and development activities;
- limitations on tax deductions and the related recalculation mechanisms;
- determination of VAT pro rata and adoption of separate accounting regimes, including the tax regime applicable to conduit real estate companies;
- applicability of the participation exemption (PEX) to shareholdings in real estate companies;
- the tax regime applicable to real estate owned companies (REOCO);
- VAT and direct taxation applicable to real estate investment funds, including in the context of leased properties;
- the direct tax and VAT regimes applicable to real estate funds, including recovery of VAT tax credits;
- the tax regime applicable to transfers of real estate assets to companies or real estate funds, as well as transfers of related shareholdings.
Moreover, the Firm provides advice and assistance in identifying the most tax-efficient structures for the acquisition and management of real estate, financial activities, and intangible assets.
