The investment tax credit in the South must be restated: if the subsidized assets do not come into operation within the second tax period following that of their acquisition; if, within the fifth tax period following the one in which they came into operation, they are disposed of, transferred to third parties or destined for purposes other than the business. The restatement also takes place when the goods are destined for production structures other than those that gave the right to the subsidy, within the fifth tax period following the one in which they came into operation.
It is legitimate to ask whether the possible theft of the goods for which the tax credit is benefited involves the redetermination of the concession. With consequent return.
We at Investire today try to arrive at a solution also on the basis of previous interventions by the Revenue Agency, even if they involved other facilities.
The investment bonus in the South
The investment tax credit in the South was introduced by Law no.208 / 2015, Stability Law 2016.
The legislation has been subject to amendments several times that have revised both the objective scope of the subsidy and the extent of the same.
The facility is recognized within the maximum private limits by the European legislation.
In particular, the tax credit supports the acquisition of capital goods until 31 December 2020.
With the 2021 Budget Law, the extension for the same year.
Investments in machinery, plants and various equipment concerning:
- to the creation of a new factory,
- the expansion of the capacity of an existing establishment,
- to the diversification of the production of a factory to obtain products never previously manufactured and a fundamental change in the overall production process of an existing establishment, that is,
- for large companies located in the areas referred to in art. 107, par. 3, lett. c) of the TFEU, those in favor of a new economic activity (see Article 2, points 49 and 51, Article 2 of the aforementioned regulation).
Specific clarifications on the tax credit are contained in the circular n ° 34 / E 2016 e n ° 12 / E 2017.
How much is it due?
The facility operates to the maximum extent of:
- 45% for small businesses (eligible costs 3 million),
- 35% for the averages (10 million) e
- 35% for large companies (15 million).
On the contrary, credit operates to the extent of 30, 20 and 10% respectively for small, medium and large enterprises located in the regions of Abruzzo and Molise.
That said, in the Municipalities of the Regions Lazio, Umbria, Marche and Abruzzo hit by the seismic events that took place from 24 August 2016, the Credit is attributed to the extent of 25% for large companies, 35% for medium-sized companies and 45% for small businesses.
The redetermination of the tax credit
Paragraph 105 of the aforementioned law provides for specific cases of restatement of the tax credit.
In particular, it must be recalculated, where the goods subject to the concession:
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they do not come into operation within the second tax period following that of their acquisition or completion;
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- they are disposed of, sold to third parties, destined for purposes unrelated to the business or
- they are intended for production facilities other than those that gave the right to the subsidy, within the fifth tax period following the one in which they came into operation.
Attention, for assets acquired under leasing, the redetermination of the facility is effective even if the right of redemption is not exercised within the supervisory period.
In any case, the restatement provisions aim to limit any elusive behavior aimed at the temporary entry of assets in company assets for the sole purpose of obtaining the tax benefit (see circular 5 / e 2015 on a similar tax credit).
As a result of the restatement: the tax credit is calculated, for each tax period of accrual, excluding the cost of the assets affected by the restatement from subsidized investments.
The credit improperly used as a result of the described recalculation hypotheses must be paid:
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- without the application of sanctions,
- within the deadline for the final payment of the income tax due for the tax period in which the above recalculation hypotheses occur (see Circular 34 / E of 3 August 2016, par. 8).
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Southern bonus: if goods are stolen
It is legitimate to ask whether any theft of the goods for which the tax credit is benefited involves the redetermination of the facility.
Well there are some clarifications given by the Revenue Agency with the circular n ° 5 / E 2015 and with the Resolution No. 180 / E of 2003.
Resolution issued in relation to the so-called “Tremonti-bis” Facilitation referred to in article 4 of law no. 383. Facilitation for which specifics were provided causes for redetermination.
Here, precisely in relation to a case of theft of assets for which he had benefited from the facility, the Agency had clarified that
in the case proposed by the taxpayer, proven by the report of theft to the competent authorities, the loss of the asset from the business regime, precisely because it is independent of the (elusive) will of the beneficiary, does not entail the application of the rule referred to in Article 4, paragraph 6, of the aforementioned law no. 383.
We at InvestireOggi believe that this indication of favor also applies to the investment bonus in the south where the subsidized assets or part of them are stolen.
Therefore you should not proceed to redetermination of the southern bonus where the assets for which the benefit is being used have been stolen. As per the theft report to the competent authorities.
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