VAT numbers, non-repayable fund up to 150,000 euros arriving by 31 December 2021

VAT numbers, a new one is coming non-repayable grant by 31 December 2021.

It will be equal to a maximum of 150.000 euro the amount that by the end of the year will be paid to those who have undergone significant income drops in 2020 compared to 2019, and the non-repayable sums already received will be subtracted from the amount granted.

The start of the operational phase of the non-repayable equalization contribution, for which time is running out. Europe has in fact authorized Italy to grant the new economic aid, but the deadline to be respected is that of December 31, 2021.

I am two steps are expected now: first of all, the implementing decree of the MEF which will specify the required requirements and secondly the development of the rules for applying by the Revenue Agency.

VAT numbers, non-repayable fund up to 150,000 euros arriving by 31 December 2021

The November 10, 2021 the approval by the European Union for the recognition of new grants in favor of the holders of VAT number, amounting to a total of 4.5 billion euros.

There are two specific measures authorized: the lost fund for startups, which started on November 9, and the equalization contribution provided for by the Sostegni bis decree, the last of the economic aid granted to holders of VAT numbers in relation to the economic repercussions of the pandemic.

On the non-repayable equalization contribution, the MEF decree that, as required by paragraph 20, article 1 of law decree n. 73/2021, will have to define the percentage of reduction of the economic result for the year of 2020 compared to 2019, parameter that will determine who will be able to apply to the Revenue Agency.

The timing of adoption of the provision must be particularly fast, considering that in compliance with the Temporary Framework, and according to what is highlighted in the European Commission communiqué authorizing the grant, the aid must be paid by 31 December 2021.

This is the deadline to be respected for the payment of the non-repayable grant up to 150,000 euros to VAT number holders damaged by Covid.

European Commission – press release of 10 November 2021
State aid: the Italian regime approved by the Commission for 4.5 billion euros

VAT numbers, application and payment of the non-repayable fund by 31 December 2021

First the publication of the implementing decree and then the start of the procedure for sending the application will allow to start, after months of waiting, thelast strand of supports introduced in favor of professionals and companies.

The administrative machine will now have to get started quickly, in compliance with the deadline of December 31, 2021, and therefore news are expected in the coming days.

Although we do not yet know one of the basic requirements for accessing the non-repayable equalization fund, namely the percentage reduction in the economic result for the year, the Sostegni bis decree helps us to outline the “contours” of the measure.

They can do request holders of a VAT number active as of May 26, 2021, carrying out business activities, art or profession or producing agricultural income, resident or established in the territory of the State, with the exception of public bodies, financial intermediaries and holding company.

In any case, holders of a VAT number can submit an application with an amount of revenues or fees not exceeding 10 million euros in 2019.

Net of the need to wait for the definition of the specific percentage decrease required, what is certain is that it will be essential to have registered a worsening of the economic result for the year in 2020, compared to the tax period in progress as at 31 December 2019.

VAT numbers, in the MEF decree the percentage of the contribution due

As for theamount, the maximum ceiling is set at 150.000 euro, but it must be pointed out that even in this case, details are awaited from the decree of the MEF, called to define the percentage of the “equalization” recognized on the decrease recorded.

The amount that emerged by applying the percentage to the difference in the economic result for the year must then be subtracted the grants already recognized by the Revenue Agency, from the first provided for by the Relaunch decree up to those recognized by the Sostegni decree and the Sostegi bis.

There will be 30 days to send the request to the Revenue Agency, according to the methods and terms that will be defined with a specific provision.

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