We would like to point out the innovations introduced by Law Decree No. 212/2023, whose conversion into law was definitively approved without modifications on 20.02.2024 and is now awaiting publication in the Official Gazette. The Decree has intervened in the regulations of the “Superbonus”, with the aim of preventing the non-completion, within the deadlines set by current legislation, of construction interventions eligible for the benefit, resulting in the revocation of already granted benefits.
1. Safeguard clause
In relation to ongoing construction sites, the Law Decree has provided an “amnesty” in the event that the interventions are not completed by the date of 31.12.2023, including cases where this results in the non-fulfillment of the requirement for a two-class energy improvement. For all works for which the option for the transfer of tax credits and/or invoice discount has been exercised until 31.12.2023, the related deductions will not be subject to recovery by the Revenue Agency. As known, must be proved that at least 30% of the intervention has been compleated. Furthermore, to expenses incurred from 01.01.2024 the 70% tax rate provided by current regulations will apply.
2. Fund for low-income citizens
Until the exhaustion of available resources and according to criteria and allocation methods established by the Ministry of Economy and Finance, a contribution is granted for expenses incurred from 01.01.2024 to 31.12.2024, in favor of individuals with an income not exceeding €15,000, provided that a progress status of works of at least 60% has been reached by 31.12.2023. The aforementioned contribution is not included in the tax base.
3. News regarding interventions in seismic zones
The option of invoice discount and/or tax credit transfer for demolition and reconstruction works in seismic zones of categories 1, 2, and 3 is limited exclusively to those affecting buildings for which the application for housing permits was submitted by 29.12.2023. Regarding expenses for interventions in areas at high seismic risk started after 30.12.2023, taxpayers are also required to enter into insurance contracts within 1 year of the completion of said works, covering damages caused to the respective properties by natural disasters occurring in the national territory.
4. Bonus for the removal of architectural barriers
To prevent improper use of the 75% tax discount, the deduction has been limited to specifically indicated interventions. These include the removal of architectural barriers exclusively related to stairs, ramps, elevators, stair lifts, and lifting platforms. Other types of previously allowed interventions have thus been excluded. Alongside these limitations, the use of the so-called “speaking bank transfer” for the payment of facilitated expenses is also mandatory, as well as technical certification in compliance with the requirements established by law.
Finally, it is noted that the Revenue Agency has extended to 04.04.2024 for all taxpayers the deadline for communicating options, invoice discounts, or tax credit transfers, regarding expenses incurred in 2023. The same extension applies to condominium administrators as well.
The Firm remains available for any clarification that may be necessary.
Best regards.
(Avv. Nellina Pitto) (Avv. Giampiero Pino) (Dott.ssa Martina Badiali)
