The year 2020 represented a real revolution for users of tax deductions. The
Law Decree n. 34/2020 (Relaunch Decree) has, in fact, provided, among other things, the possibility for taxpayers to benefit from some tax concessions in an alternative way.
Superbonus 110% and tax deductions: the alternative options
With art. 121 of the Relaunch Decree, for the 110% super bonus and the other main concessions for the construction sector, the possibility was also provided for the incapable of benefiting from the tax bonus thanks to the two alternative options to direct deduction:
- the discount on the invoice;
- the assignment of credit.
We are talking about two options that allow the taxpayer to obtain a direct discount from the service provider or to “sell” the tax deduction to “anyone” who wants to buy it.
Alternative options whose implementation methods have been defined with some provisions of theRevenue Agency:
- the Provision 8 August 2020, n. 283847 bearing “Implementation provisions of articles 119 and 121 of the decree-law of 19 May 2020, n. 34, converted, with amendments, by law 17 July 2020, n. 77, for the exercise of options relating to the deductions due for building renovation, recovery or restoration of the facade of buildings, energy requalification, reduction of seismic risk, installation of photovoltaic solar systems and infrastructures for charging electric vehicles “;
- the Provision 12 October 2020, n. 326047 bearing “Changes to the model for the communication of the option relating to interventions for the recovery of the building heritage, energy efficiency, seismic risk, photovoltaic systems and charging columns, approved with the provision of the Director of the Revenue Agency of 8 August 2020, related instructions. Approval of the technical specifications for the electronic transmission of the communication model”;
- the Provision 22 February 2021, n. 51374 bearing “Extension of the deadline for sending the communications of the options referred to in article 121 of the decree-law of 19 May 2020, n. 34, relating to the expenses incurred in the year 2020“;
- the Provision of 30 March 2021, n. 83933 containing “Further extension of the deadline for sending the communications of the options referred to in article 121 of the decree-law of 19 May 2020, n. 34, relating to the expenses incurred in the year 2020”.
With the latest provision no. 83933/2021 was, in particular, extended to April 15 last, the deadline for the electronic submission of the communication model with which the taxpayer must inform the Revenue Agency that he has opted, instead of the direct use of the deduction, for a contribution in the form of a discount on the invoice or for the transfer of a tax credit to third parties.
Credit transfer and late communication
But what happens if the communication of the credit transfer for the expenses incurred in 2020 has been rejected because it was sent after 15 April 2021?
The Revenue Agency took care of this question through its online magazine FiscoOggi in which it reiterated that “The option for the assignment of credit, both for the interventions carried out on the real estate units, and for the interventions carried out on the common parts of the buildings, must be communicated to the Revenue Agency by March 16 of the year following the one in which they are expenses have been incurred. For expenses made in 2020, the deadline has been extended to April 15, 2021“.
The Revenue Agency also recalled what was stated in circular no. 24 / E of 8 August 2020, namely that “the option can also be exercised for the residual installments of the deductions not yet used and, in this case, it must refer to all the remaining installments and is irrevocable. Therefore, in the case indicated in the question, the taxpayer can choose to take advantage of the first deduction installment, indicating it in the 730/2021 form, and assign the credit corresponding to the remaining installments“.
Credit transfer 2022 at risk
In its response, the Revenue Agency also recalled a very interesting aspect that should not be overlooked. “Finally, it should be remembered that the request for credit transfer, including that relating to the installments not yet used, can be made only if the expenses that give the right to the deductions were incurred in the years 2020 and 2021“.
Although the time horizon of the 110% superbonus interventions is still “in the making“, for some beneficiaries there is already an official extension to 2022 (condominiums and multi-family buildings) and to 2023 (IACP). But paragraph 7-bis of art. 121 of the Relaunch Decree, which provides for the extension of the transfer of the credit to 2022, is among those provisions provided for by the 2021 Budget Law (Law No. 178/2020) for which confirmation by the Council of the European Union is still awaited.
Therefore, correctly, the Revenue Agency recalled that the alternative option to date can only be exercised for the expenses incurred in 2020 and 2021.