Bonus fashion 2021: the beneficiary companies they will find in the tax drawer amounts of the tax credit on inventories to a lesser extent. To communicate it is theRevenue Agency with the provision no. 334506 of November 26.
You can only guarantee for the 64.2944 per cent of the benefit provided byarticle 48 bis of the Relaunch Decree introduced in support of subjects operating intextile, fashion, footwear and leather goods industries.
After a long wait to be able to benefit from the benefit, the sums to which you are entitled are reduced.
2021 fashion bonus, tax credit on inventories with reduced amounts: the calculation
The time window for the presentation of applications for access to the 2021 fashion bonus closed on November 22, 2021: as for a series of other concessions, the Revenue Agency has recalculated the benefit value comparing the requests received with the resources available.
Result? The funds available, as has already happened in other cases, proved to be insufficient.
the beneficiary companies they requested tax credits on inventories equal to 147.757.765 euro against an availability of 95 million euros.
The text of the provision of November 26 reads:
“It should be noted that the percentage of the tax credit actually usable by each beneficiary is equal to 64.2944 per cent (95,000,000 / 147,757,765) of the amount of the credit requested”.
From a practical point of view, the value of the 2021 fashion bonus it no longer consists of 30 percent, but of 19.28 percent, of the difference between the final warehouse inventories and the average of the value of final inventories recorded in the three tax periods preceding that of the benefit.
|Bonus fashion 2021||Value of the expected tax credit||Percentage due||Effective tax credit value|
|–||30 percent||64.2944 per cent||19.28 percent|
2021 fashion bonus: reduced amounts for the tax credit on inventories in the tax drawer
It is therefore not possible to maintain the promise initials: article 48-bis of Legislative Decree no. 34/2020 has provided for a tax credit of 30 percent of the value of the final inventories exceeding the average of the value recorded in the 3 years preceding that of the benefit.
The benefit is relative to two tax periods and access occurs at two different times.
|Tax period of reference||Window for sending communications|
|Tax period in progress on the date of entry into force of the provisions referred to in the decree of the President of the Council of Ministers 9 March 2020||From 29 October 2021 to 22 November 2021|
|Tax period in progress as of December 31, 2021||From 10 May 2022 to 10 June 2022|
For the first tax period affected by the concession, therefore, the companies with the ATECO codes identified by the MISE Decree of 27 July 2021 that have submitted apply by the deadline of November 22nd found in the fiscal drawer lower amounts of those who have requested.
As specified by the provision of the Revenue Agency, the tax credit can be used exclusively in compensation through model F24 in the tax period following that of accrual and with a resolution to this will be established on tax code to use.
The text also reads:
“Notwithstanding the provisions in the instructions of part RU of the 2021 INCOME models, the credit relating to the tax period in progress at the date of entry into force of the decree of the President of the Council of Ministers of 9 March 2020 must be indicated in part RU of the INCOME form relating to the tax period in progress at the date of publication of this provision “.
All details are contained in the provision of the Revenue Agency number n. 334506 of November 26, 2021.
- Revenue Agency – Provision number 334506 of November 26, 2021
- Determination of the percentage of the tax credit actually usable by subjects operating in the textile, fashion, footwear and leather goods industry, referred to in article 48-bis of the decree-law of 19 May 2020, n. 34. Tax period in progress on the date of entry into force of the decree of the President of the Council of Ministers of 9 March 2020.