As we have already had the opportunity to illustrate in other previous interventions on the subject, the legislator has provided for several editions for the expulsion. It being understood that the possibility has always and only affected individual entrepreneurs (therefore, self-employed, professionals, companies and ENCs are excluded) originally the choice was made possible with reference to the instrumental properties (by destination or by nature) owned by the October 31, 2015. The 2017 edition was subsequently established with reference to the properties owned as of October 31, 2016. Finally, the last two editions 2019 and 2020 respectively with reference to the possibility of ousting the instrumental properties owned at 31 October 2018 and 31 October 2019.
The 2019 edition
The subject of this intervention is the completion of the exclusion referring to the 2019 edition (properties owned as of October 31, 2018). For this edition, the choice had to be made with conclusive behavior that was to be assumed by May 31, 2019 (with retroactive effect from 1 January 2019). The option entailed the obligation to pay the substitute tax of IRPEF, additional and IRAP, to be calculated with rate of 8% applied on the capital gain given by the difference between the normal value and the tax value of the expelled property.
Payment was due in two installments, of which the first (equal to 60% of the amount due) was to be paid by 30 November 2019 and the second (for the remaining 40%) expired on 16 June 2020.
The choice was not precluded in the event of tax base nothing (i.e. in the case of a normal value equal to the tax value) and not even in the case of negative tax base because for example the normal value is lower than the tax value (this was clarified by the Revenue Agency in Circular no.
26 / E of 2016 and in Circular no. 8 / E of 2019).
It is also recalled that for tax value the property must be understood as the value entered in the book of inventories or in the register of depreciable assets, net of the depreciation quotas fiscally deducted up to the 2018 tax period, and taking into account any fiscally relevant revaluations. About the normal value, the Revenue Agency has considered that the individual entrepreneur may alternatively take as such the one envisaged pursuant to art. 9 of the TUIR (market value), or the one determined on the basis of the application to the amount of the annuities resulting in the land register of the multipliers provided for the calculation of the registration tax.
The improvement in the PF / 2020 Income Model
For the purposes of completing the choice made, however, the conclusive behavior and the payment of the substitute tax (however reprehensible) is not sufficient. The option, in fact, is perfected only with an indication in the tax return of the choice made.
In Revenue Model PF / 2020 that the individual entrepreneur will present this year by November 30 next, therefore, he is called to perfect the ouster chosen last year. This must be done by completing section XXII of part RQ (lines RQ81 and RQ82). I detail it in line RQ81 the entrepreneur must report:
- in column 1, the amount of the normal value of the instrumental real estate removed from the company’s assets in 2019;
- in column 2, the fiscally recognized cost relating to the goods in column 1;
- in column 3, the tax base equal to the difference between the amounts indicated in columns 1 and 2 of this line (in the event of a negative result, the amount must be preceded by the sign “-“).
In line RQ82 it should then be indicated:
- in column 1, the amount indicated in column 3 of line RQ81 (in the event of a negative result, this column should not be completed);
- in column 2, the substitute tax due (i.e. 8% in column 1).