L
L - ATECO Codes Real Estate Activities
Section L covers all real estate activities, grouped under the single division 68. This includes the buying and selling of own property (68.11), real estate development (68.12), the letting and management of own or leased property (68.20), and the intermediation carried out by estate agents (68.31). The tax treatment differs significantly: intermediaries operate as businesses with a VAT number and INPS enrolment, while those who simply let their own property often declare property income without registering a VAT number.
- ATECO 2025 codes
- 8
- Flat-rate eligible
- 8 of 8
- Profitability coefficient
- 86%
- Prevalent INPS scheme
- Artigiani
68.11.00ATECO Code Buying and Selling of Own Real Estate68.12.00ATECO Code Real Estate Development68.20.01ATECO Code Rental and Management of Owned or Leased Telecommunications Land68.20.02ATECO Code Renting and Management of Other Non-Residential Land and Buildings, Plants and Factories, Owned or Leased68.20.09ATECO Code Renting and Management of Own or Leased Real Estate N.e.c.68.31.00ATECO Code Real Estate Agent and Brokerage Services68.32.01ATECO Code Management of Real Estate on a Fee or Contract Basis68.32.09ATECO Code Other Real Estate Activities on a Fee or Contract Basis N.e.c.Frequently asked questions
What is the flat-rate regime profitability coefficient for an estate agent?
For code 68.31.00 the profitability coefficient is 86%. This means 86% of fees becomes taxable income and the remaining 14% is treated as a flat-rate cost allowance, with no need to document actual expenses. On the income calculated in this way the 15% substitute tax is applied, reduced to 5% for the first five years if the new-business requirements are met. You can calculate your taxes to see how much you would net from your turnover.
Does an estate agent need to enrol in the INPS commerciants' scheme?
Yes. An estate agent carries out a business activity, so in addition to registering a VAT number they must register with the Business Register at the Chamber of Commerce and pay contributions to the INPS artisans' and commerciants' scheme. Fixed contributions on the minimum threshold (around €4,500 per year) are due, plus 24.48% on the portion of income exceeding approximately €18,800. Those in the flat-rate regime can apply for a 35% reduction on total contributions.
Do I need to register a VAT number with a 68.20 code to let a property I own?
In most cases, no. Simply letting your own property generates property income, which is declared in section RB of the personal tax return or subjected to the flat-rate rental tax (cedolare secca), with no VAT number or INPS enrolment required. Code 68.20 and a VAT number become necessary when the management turns into a regular and organised business activity — for example, multiple properties let with ancillary services such as cleaning or linen changes. The dividing line is the existence of a business-like organisation, not the number of contracts.