Raise: the rental bonus is triggered, help for businesses

The rental bonus arrives and is immediately operational. The Revenue Agency has released the circular and the tax code that allows, from today, to use the tax credit for a part between 30 and 60% of the rent paid in the lockdown months by the companies that have seen halve its turnover. The bonus, especially designed for bars, restaurants and hotels, generally concerns non-residential buildings intended for industrial, commercial, artisanal or agricultural activities.
    The circular, signed by the director of the Revenue Agency Ernesto Maria Ruffini, also includes third sector entities and civilly recognized religious entities, which carry out institutional activities of general interest.

The circular, signed by the director Ernesto Maria Ruffini, provides the first clarifications. The bonus will also apply to leasing or concession fees and the tax code to be indicated will be "6920" and will allow companies to compensate the taxes to be paid with the F24 model. The credit can also be transferred.

THE BONUS - The tax credit is equal to 60 per cent of the rent for properties for non-residential use and to 30 per cent of the rent in cases of business rental contracts. The amount to be taken as reference is that paid in the 2020 tax period for each of the months of March, April and May. However, the fee must have been paid. In the event of non-payment, the possibility of using the tax credit remains suspended until the moment of payment. If, on the other hand, the rent has been paid in advance, it will be necessary to identify the installments relating to the months of use of the benefit, parametrising them to the overall duration of the contract. When condominium expenses are agreed as a single item within the rent and this circumstance results from the contract, condominium expenses can also contribute to the determination of the amount on which to calculate the tax credit.

WHO IS IT FOR - Benefits from the tax credit for lease payments on properties for non-residential use and business renting who carries out business, art or profession activities, with revenues or fees not exceeding € 5 million in the period of tax prior to the one in progress on the date of entry into force of the relaunch decree. The tax credit is recognized to hotels and agritourism structures regardless of the volume of revenues and fees recorded in the previous tax period. This also includes non-commercial entities, including third sector entities and civilly recognized religious entities. Flat rates and agricultural businesses are considered included. Also included are those who carry out a seasonal hotel or agritourism activity; in this case, the months to be taken as reference for the purposes of the tax credit are those relating to the payment of the fees of April, May and June.

THE REQUIREMENTS - The tax credit is due on condition that the subjects exercising economic activity have suffered a decrease in turnover or fees in each of the months of March, April and May of at least fifty percent compared to the same month of the period of previous tax. The drop in turnover or fees must be verified month by month. So there may be the case, for example, that you are entitled to the tax credit for only one of the three months. The circular also clarifies that the credit is due regardless of the cadastral category of the property, noting the actual use of the same in the activities mentioned above.

HOW TO USE THE BONUS - The tax credit can be used in compensation, in the tax return relating to the tax period for the expenditure; or, alternatively, it can be transferred. The assignment can take place in favor of the lessor or the grantor, or of other subjects, including credit institutions and other financial intermediaries, with the faculty to subsequently assign the credit for the latter. In the event that the tax credit is subject to transfer to the lessor or grantor of the payment of the fee, it must be considered to have taken place simultaneously with the effective date of the transfer, towards the financial administration. In other words, in this particular hypothesis it is possible to take advantage of the credit even in the absence of payment, without prejudice, however, to the payment of the difference due with respect to the amount of the agreed sale. The credit can be used in the tax return relating to the tax period for the expenditure.