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22/01/2020 - News incentives 2020: Tax credit instead of Super and Hyper depreciation

With the new financial law, the 2020 incentives for companies investing in capital goods change: the system moves from super and hyper depreciation to a tax credit of varying amount and use depending on the type of intervention.

The measures are part of law 160/2019 art.1, paragraphs 185 to 197, and concern investments made from January 1, 2020 by all Italian companies.

Which assets can benefit from the 2020 incentives
The benefits concern new capital goods necessary for the operation of the business, including intangible assets (software, systems and system integration, platforms and applications) as defined in Annex B of law 232/2016.

The following are excluded from eligible assets, for example:
motor vehicles and means of transport;
assets with a depreciation rate lower than 6.5% (therefore depreciation not exceeding 15 years);
real estate;
assets listed in Annex 3 of law 2008/2015 such as airplanes, railway material, various pipelines.

The amount of the tax credit resulting from the new measure depends on the type of asset subject to investment, as exemplified below:

40% of the cost for investments related to a technological and digital transformation of the company according to the "Industry 4.0" model, for interventions under €2.5M;
20% of the cost for the above interventions for the portion exceeding €2.5M and up to €10M;
15% for software and applications (Annex B to law 232/2016) for costs up to 700 thousand euros;
6% for all other assets different from those mentioned in the previous points, with a maximum limit of €2M.

How to use the credit

The tax credit can be used exclusively for offsetting, in equal annual installments for a duration of 3 years for investments in intangible assets and 5 years for others.

The use of the credit may begin from the year following the one in which the assets are put into operation; appropriate communication must be made to the Ministry of Economic Development (with procedures yet to be defined) to acquire statistical and usage information about the measure.

Management of pending super and hyper depreciation

For investments in capital goods for which orders have already been accepted and for which down payments of at least 20% have been made by December 31, 2019, the Hyper depreciation continues to apply and not the tax credit.

17/07/2019 - SUPER DEPRECIATION FOR PHOTOVOLTAICS

The recent approval of the Growth Decree has renewed the validity of the Super Depreciation also for photovoltaics. The super depreciation is an investment incentive tool that has generated a lot of interest, particularly for the installation of photovoltaic systems serving production or commercial activities.

Super Depreciation also renewed for photovoltaics

The measure, which had been halted at the end of last year, was renewed with the issuance of the recent "Growth Decree" (34/2019) and is available from April 1, 2019, until December 31, 2019 (or by June 30, 2020, but only on the condition that by December 2019 the order has been placed, accepted by the seller, and a deposit of at least 20% of the acquisition cost has been paid).

Depreciate 130% of the purchase cost

The measure consists of being able to "depreciate" 130% of the purchase cost of the systems, which in the law are called "capital goods," up to an investment of 2.5 million euros.

More specifically, the benefit is applicable exclusively to new capital goods; excluded are: vehicles, buildings and constructions, goods with standard depreciation rates lower than 6.5%, and other goods listed in Annex 3 of the 2016 Stability Law, such as, for example, fully equipped aircraft, railway and tramway rolling stock. The super depreciation is applicable for investments made by business income holders and by those practicing arts and professions.

12/07/2019 - NEW CALL FOR AGRICULTURAL COMPANIES IN THE LOMBARDY REGION

Regione Lombardia has approved a new call for the development of renewable energy plants for agricultural enterprises. The call, which falls under operation 6.4.02 "Support for the creation and development of energy production activities" of the Lombardy Rural Development Program 2014-2020, provides for a financial allocation of 8 million euros. Applications can be submitted from July 12 to September 5, 2019. Individual entrepreneurs, cooperatives, and agricultural companies with up to 10 employees who intend to install photovoltaic systems or carry out other interventions that use renewable sources will be able to participate. The application can only be submitted electronically.DSD

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COMIFE S.r.l.

Registered Office - Via Alberto Tallone, 84 00123 ROME (RM)

Operational Headquarters - Borgata Mortera, 3 10051 AVIGLIANA (TO)

VAT and Tax Code 14843651002

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