From today it is possible to use the tax credit of 60 per cent of the monthly fee for the rental, leasing or concession of non-residential properties intended for the performance of industrial, commercial, craft, agricultural activities. This was announced by the Revenue Agency with resolution no. 32 / E which established the tax code ‘6920’ which allows companies to compensate with the F24 model, using the Revenue electronic services. Circular no. 14 signed by the Director of the Agency, Ernesto Maria Ruffini, who provides the first clarifications on the use of the relief measure provided for in article 28 of the Relaunch decree. From the requirements to access up to the methods of use of the credit, the practice document also focuses on the beneficiaries including also the flat-rate and non-commercial entities, including third sector entities and civilly recognized religious entities, which carry out institutional activities of interest general.
The tax credit is equal to 60 per cent of the rent for properties for non-residential use and 30 per cent of the rent in cases of business lease 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 unitary 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.
Tax credit for lease payments on non-residential properties and business leases for those who carry out business, art or profession activities, with revenues or fees not exceeding € 5 million in the tax period 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. For the latter, the possible conduct of commercial activities in a manner that is not prevalent compared to the institutional one does not affect the use of the tax credit also in relation to the latter activity. 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 a reference for tax credit purposes are those relating to the payment of the fees of April, May and June.
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 by at least fifty percent compared to the same month of the previous tax period. 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 condition of the drop in turnover applies only to tenants engaged in economic activity. For non-commercial entities, this verification is not envisaged with reference to institutional activity. For these subjects, therefore, the requirement to be respected for the use of the tax credit (in addition to not having achieved income flows in excess of € 5 million in the previous year) is that the property for which the rent has a non-residential destination and is intended for institutional activities. 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.
The tax credit can be used in compensation, in the tax return relating to the tax period for incurring the expense; 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 transferred to the lessor or granting the payment of the fee, it must be considered to have occurred at the same time as the effective date of the transfer, against the financial administration. In other words, in this particular hypothesis it is possible to use 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 assignment. The methods for implementing the provisions relating to the assignment of the tax credit will be defined in the provision of the director of the Revenue Agency envisaged for the other measures issued to deal with the emergency from COVID-19.
The credit can be used in the tax return relating to the tax period for incurring the expense or in compensation (article 17 of the legislative decree 9 July 1997, n. 24) after the payment of the fees. The compensation takes place using the F24 form to be presented exclusively through the telematic services made available to the Inland Revenue and indicating the tax code “6920”.