Tax credit transfer: how to do it and what to do?


Tax credit transfer: how to do it and what to do?

Certain benefits provided by the relaunch decree, as well as by previous measures, allowed the possibility of using them through the attribution of a tax credit. Think of the Ecobonus, Bonus Facades, Sismabonus. However, the big news of the new decree consists in the possibility of transferring said credit. Thus, those who do not want or cannot directly use it by deducting it, can transfer it to other subjects, even partially.

This system is very useful especially for those who, for reasons of fiscal capacity, could not take full advantage of it or prefer to make it liquid, directly and immediately. In this way, it will have the opportunity to monetize the benefit instead of waiting for subsequent years to be able to make the expected deductions. So, from 19 May 2020 until 31 December 2021, those who are beneficiaries of one of the tax credits provided for the 2019 epidemiological emergency, can opt for the transfer. This, as mentioned, may also be partial and take place against other subjects, such as its suppliers, who may also use it in compensation.

Tax credit transfer: what are the tax credits transferable?

First of all, there are those provided for rents of shops, professional studios or business establishments. These will obtain 60% of the rent paid as tax credit for the months of March, April and May 2020. Then, we have the costs incurred for the disinfection of the workplace and for the adaptation of the premises to the anti-Covid-19 containment measures. The rule of the relaunch decree suggests to use all the credit, because the portion not used in the year cannot be used in the following years. Furthermore, it cannot even be requested from refund. To take advantage of the tax credit, you must wait for the provision to be issued implementing the Director of the Revenue Agency, which will establish the methods of communication of the assignment. The communications relating to the transfer file must, however, be made electronically.

Invoice discount for certain bonuses

For some bonuses, the decree provides, as an alternative to the tax credit, directly a discount on the invoice by the supplier. These are the interventions for the recovery of the building heritage, those relating to energy efficiency and anti-seismic measures. In addition, those relating to the installation of photovoltaic systems or columns for charging electric vehicles and recovering or restoring the facade of existing buildings. In short, these are the so-called Ecobonus, Sismabonus, Bonus Facades etc. The invoice discount mechanism will allow you to transform some tax deductions into a discount for the years 2020 and 2021. Also in this case, the relaunch decree provides for the possibility of subsequent transfer to other subjects. Therefore, taxpayers can opt for a contribution of the same amount in the form of an advance discount from the supplier as an alternative to the credit indicated above.

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