The range of subjects who can take advantage of the “special repentance” by adhering to the biennial preventive agreement is expanding and new rules are arriving for companies that intend to access the tax credit within the so-called “Zes Unica” which concerns all areas of Southern Italy. These are some of the main innovations of the so-called “tax decree” (n. 155 of 19 October 2024). But let’s go in order.
Provisions regarding “special repentance” for those who adhere to the biennial composition with creditors.
The art. 7 provision, published in the Official Journal of 19 October 2024, intervenes among other things on the “special repentance”, a measure that had already been introduced by the art. 2-quater of the so-called “omnibus decree” (Legislative Decree no. 113/2024), expanding the list of subjects to whom access is permitted. This is the institution that allows, exclusively to subjects who adhere to the biennial composition with creditors by 31 October 2024, to remedy the missed payments relating to income taxes and IRAP in the tax periods 2018, 2019, 2020, 2021 and 2022, paying a variable substitute tax based on the ISA score achieved in the same years subject to the amnesty.
With the entry into force of the tax law decree, the possibility of taking advantage of this “special repentance” is now also provided for subjects with revenues or compensation of up to 5,164,569 euros who, even for one of the years between 2018 and 2022 have declared a cause for exclusion from the application of the ISA due to the spread of the COVID-19 pandemic, or who have operated in conditions that are not normal for the conduct of business.
In these two cases, the substitute tax to be paid to complete the repentance will be determined as follows:
- the taxable base is equal to the difference between the business or self-employment income already declared (or the value of net production for IRAP purposes) in the years covered by the same repentance and the value of the same increased by 25%;
- the substitute tax for income taxes and related additional taxes is determined by applying the rate of 12.5% to the taxable base, while the substitute tax for IRAP is determined by applying the rate of 3.9% to the taxable base.
As provided for those who apply ISAs, the substitute taxes for income taxes and related surcharges and IRAP have decreased by 30%.
Provisions regarding the Single ZES tax credit
Another important article of the provision is n. 8 which intervenes, however, on the regulation of the ZES Unica tax credit, regulated by art. 1 of Legislative Decree no. 113/2024. In particular, this last provision, in refinancing the ZES tax credit for 2024, with a further spending authorization of 1.6 billion euros, to be added to the 1.8 billion euros already allocated, introduced the the obligation, for companies that have already submitted the documentation required to obtain the tax benefit, to send to the Revenue Agency, from 18 November to 2 December 2024, a supplementary communication certifying the realization by the deadline of 15 November 2024 of subsidized investments.
Legislative Decree 155/2024 now provides for the possibility of indicating, through the aforementioned supplementary communication, additional investments compared to those already resulting from the “first” communication presented pursuant to the art. 5, paragraph 1, of the ministerial decree, always if carried out in the period between 1 January 2024 and 15 November 2024.
In such cases, the amount of the increased tax credit accrued must also be communicated and the relevant evidentiary documentation attached.
It remains understood that the Revenue Agency, with a provision to be adopted by 12 December 2024, will determine the amount of the tax credit that can actually be used.
To learn more about all technical details go to the Taxation and incentives section
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