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 Circular  4/01/2021  "Budget Law 2021"

Law 178/2020 "Budget Law 2021" was published in the Official Gazette. Pending the implementation decrees and explanatory circulars, this is a first summary of the main changes:

  • Paragraph 10.  Contribution exemption of 100% max. 6000 euros for 36 months for new hires 2021 - 2022 <36 years for an indefinite period or transformation from fixed to permanent. Period raised to 48 months for recruitment in the south (including Abruzzo).

  • Paragraph 16.  Contribution exemption 100% max 6000 euros for employment of women.

  • Paragraph 20.  Contribution exemption for self-employed workers and professionals (both INPS and Casse di Previdenza) in 2021. Conditions: total income 2019 max 50,000 euros loss of at least 33% of turnover in 2020 compared to 2019. Amounts and methods to be established with

    decree.

  • Paragraph 33.  Contribution waiver of 100% for twenty-four months to direct growers and IAP, of

    age under 40, who enroll in the agricultural pension between 1 January 2020 and

    12/31/2021.

  • Paragraph 58 .  Extended until 12/31/2021: 65% energy saving deduction, 50% solar shading deduction, 65% microgenerators deduction, 50% renovation deduction, 50% furniture bonus deduction related to recovery interventions started from 1/1 / 2020 with subsidized spending ceiling raised from 10,000 to 16,000, 90% deduction for facades bonuses. 50% deduction established when fully operational for replacement of emergency generators with latest generation gas emergency generators

  • Paragraph 62.  Water bonus of 1000 euros (while funds are exhausted) for the replacement, in 2021, of the existing ceramic toilets with ceramic toilets with reduced drainage and of bathroom, kitchen and shower taps with water flow control <= 6 liters per minute and <= 9 liters per minute per shower.

  • Paragraph 66 .  Super bonus of 110% extended to 30 June 2022. For expenses incurred in 2022, deduction in 4 installments instead of 5. It is foreseen that the interventions for the insulation of the roof still fall within the subsidy discipline. Provided a definition of functionally independent real estate unit. It must own at least three of the following four systems: water system, gas system, electricity system, winter air conditioning system. Extension of the facility also to buildings without an APE as long as they have no roofing and / or one or more perimeter walls provided that, at the end of the intervention, the building reaches energy class "A". Among the towed interventions included those of elimination of architectural barriers (installation of lifts, hoists, robotics, etc.) even if carried out by over 65. For expenses incurred from 1 July 2022, the deduction is divided into 4 installments instead of 5. For condominiums the Facilitation is extended to expenses incurred by 12/31/2022 as long as at least 60% of the total intervention has been completed by 30/6/2020. For the purposes of the superbonus, buildings made up of two to four real estate units separately owned by a single owner or jointly owned by several natural persons who do not act in the exercise of businesses, arts and professions, have been assimilated to the condominium. Individuals can benefit from the superbonus as well as on the common areas, on a maximum number of two real estate units. Simplifications are also envisaged for the insurance policies of professionals called upon to certify the compliance of the interventions with the provisions of the law. At each construction site where the interventions subject to the superbonus are carried out, a clearly visible sign must be affixed that reads: “Access to state incentives provided for by law 17 July 2020 n. 77, super bonus 110 per cent for energy efficiency or earthquake-resistant interventions ". The possibility of opting for the assignment of credit or for the discount on the invoice is also extended to the expenses related to the superbonus incurred in 2022. As regards the time limit for the authorization of the bonus earthquake procedures, the change made seems to provide that, in if the building permit is issued, the date of issue of the same is not relevant. (wait to circulate)

  • Paragraph 83.  Revaluation of business assets pursuant to art. 110 DL 104/2020. The possibility of tax recognition of the higher values recorded in the financial statements has also been extended for goodwill and other intangible assets.

  • Paragraph 131.  Tax credit 40% max 50,000 for the purchase of IT infrastructures for electronic commerce by networks of agricultural and agri-food companies carried out in the years from 2021 to 2023.

  • Paragraph 139.  Obligation to keep an electronic register of loading and unloading for anyone who holds, for any reason, cereals and cereal flours, if the quantity handled exceeds five tons per year. A decree will be issued for the methods of application. Sanction from € 5,000 to € 20,000. In case of non-registration of more than 50 tons, the plant will close from 7 to 30 days.

  • Paragraph 171.  Tax credit for investments in the southern regions extended to 12/31/2022.

  • Paragraph 216.  Financing art. 13 letter m) of 23/2020 (100% fund guarantee max 30,000 euros) can have a maximum duration of fifteen years. Those who have already obtained the loan can request an extension of up to fifteen years. Pursuant to paragraph 218 below, the interest rate on these loans is determined to an extent not exceeding 0.20% + value, if positive, returned with a similar duration.

  • Paragraph 227.  The Revenue Agency will set up an electronic platform for the multilateral offsetting of trade receivables and payables resulting from electronic invoices. The procedures for joining the system and its functioning will be determined with a specific provision.

  • Paragraph 244-245.  Extension of the provisions referred to in Article 13 of Legislative Decree 23/2020 (SME guarantee fund) until 30/6/2021. For companies with a number of employees between 250 and 499, the extension is limited to February 28, 2021.

  • Paragraphs 248, 249 and 250.  Suspension of the repayment of the loans pursuant to art. 56 of the "Cura Italia" extended from 1/31/2021 to 6/30/2021. For companies already admitted to suspension, the extension operates automatically unless expressly waived to be communicated to the bank by 31/1/2020. Companies that have not been admitted to suspension can request such suspension by 1/31/2021.

  • Paragraph 300.  Employers who suspend or reduce their activity due to COVID can benefit from the redundancy fund for a maximum of twelve weeks placed in the period 1 January 2021 - 31 March 2021 for the ordinary cig and between 1 January 2021 and 30 June 2021 for ordinary check or cig in derogation.

  • Paragraph 306.  Employers who have not requested the cig benefit from the exemption from

    payment of social security contributions pursuant to art. 3 dl 104/2020 for a further eight weeks

    usable by 31/3/2021.

  • Paragraph 599.  Suppression of the first imu installment for properties used as: bathing establishments, cat D / 2 properties, farmhouses, tourist villages, landlords, discos, category D exhibition structures.

  • Paragraph 602.  Extension to 30/4/2021 of the tax credit for rents for tourist accommodation facilities.

  • Paragraph 608.  For the years 2020 and 2021, the tax credit for advertising investments is equal to 50% of the advertising investments made in daily and periodical newspapers.

  • Paragraph 1051 et seq.  Tax credit for investments in new tangible and intangible assets other than those with limited deductibility pursuant to art. 164 TUIR or for which the depreciation coefficient is less than 6.5%. It is due to different degrees depending on whether it is INDUSTRY 4.0 goods and the year in which the investment is made. The terms indicated above are extended to 30/6 of the following year if, by 31/12, the order is accepted and a down payment of at least 20%. The tax credit is due to both businesses and professionals.

    We will later publish updates and insights, especially regarding the most important and innovative interventions (hiring bonuses, 110% bonuses, tax credits, and more).

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