15. INCOMES FROM LAND AND REAL ESTATES

15.1 DEFINITION Income from land or buildings situated in the territory of the State which are or have to be registered, with independent annuity attribution, in the cadastre (art. 25 Income Tax Code).

15.2 TERRITORIALITY Produce income from land properties located in the State Irrelevance of the residence of the subject property owner ERGO Even for non-residents these incomes are considered produced in Italy as income properties held here

15.3 The average ordinary income Determineted on the basys of the cadestrian evidences flat-rate system based on rates of valuation Irrilevance of the income effectivly produced a Average as is calculated on an average more years, taking into account different production cycles Relevance of the average ordinary income Ordinary as obtained from a farmer medium capacity

Ltd., partnerships, cooperatives which have the status of farme 15.4 THE PASSIVE SUBJECTS Individuals who have possession of the property by way of ownership or other real right Ltd., partnerships, cooperatives which have the status of farme

15.5 THE SINGLES TYPES OF INCOME FROM LAND AND REAL ESTATES Redditi fondiari Incomes from land Dominical (Ownership) land income (art. 27 TUIR) Agricoltural income (art. 32 TUIR) Real estate income (art. 36 TUIR)

15.6 The agricoltural income It expresses the ordinary average profitability retracting from the execution of agricultural activities on the bottom, through the use of capital and labor, within the limits of the ground potential (Art. 32 Income Tax Code)

15.7 THE AGRICOLURAL ACTIVITIES Agricoltural activities d In the strict sense: cultivation of land, forestry (Art. 32 CO 2 letter. A) and breeding of animals with feed obtainable for at least a quarter of the ground (Art. 32 CO 2 letter. B first part). More: Crop production through fixed structures or furniture with a area of the production not exceeding twice that of the land on which the same stresses (Art. 32 Co. 2 lett. B second part). For instrumentality: 3rd Co. art. .: 1235 commercial code aimed at handling, transformation, storage marketing and development, even if not carried out in the soil, of products obtained mainly from performing of one or more activities agricultural in the sense narrow (32 Art Co. 2 letter. C).