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    Italy to Raise Taxes for Owners of Multiple Short-Term Rentals

    Italy plans to hike taxes on short-term rentals by people letting out more than one flat, according to a draft of the 2024 budget. The move comes in the wake of criticism of rental platforms for contributing to a shortage of affordable housing for residents in the most popular tourist destinations. Italian legislation allows owners to rent out their apartments and pay a tax rate of 21% on earnings. Prime Minister Giorgia Meloni intends to raise that to 26% "in the case of the short-term rental of more than one apartment in each tax period," the draft showed.

    Reuters (10/28/23) Giuseppe Fonte

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