2020 Budget Lawadmin
The 2020 Budget Law provides for Tax Credit in favour of companies that make investments in capital goods for plants located in the Italian State. The Tax Credit has therefore replaced the super and hyper-amortization of the past years.
The Tax Credit is calculated in different percentages depending on the type of investment:
– for investments in Industry 4.0 tangible assets, the tax credit is due for 40% of the acquisition cost, for investments up to € 2.5 million and 20% of the acquisition cost, for investments over € 2.5 million and up to the maximum limit of total eligible costs of € 10 million;
– for investments in Industry 4.0 intangible assets (software, systems and system integration, platforms and applications, including cloud computing solutions), the tax credit is recognized to the extent of 15% of the acquisition cost, within the maximum limit of eligible costs of € 700,000;
– for investments in new “non-industry 4.0” capital goods, the tax credit is allocated at 6% of the acquisition cost, within the maximum limit of eligible costs of € 2 million.
The IDECON Checkweighers, equipped with highly technological features, are therefore compliant with the “industry 4.0” concept.
The tax credit due can only be used for offsetting on model F24 and “the limits referred to in Article 1, paragraph 53, of Law no. 244 of 24 December 2007, referred to in Article 34 of Law no. 388 of 23 December 2000, and referred to in Article 31 of Decree Law no. 78 of 31 May 2010, converted, with amendments, by Law no. 122 of 30 July 2010, shall not apply”. (Art. 1, para.191, Law 160/2019).
Use in offsetting the tax credit:
- shall commence “from the year following that in which the investment assets referred to in paragraph 188 come into operation, or from the year following that in which the investment assets referred to in paragraphs 189 and 190 (i.e. for 4.0 assets) are interconnected”;
- is carried out in 5 equal annual instalments, reduced to 3 in the case of intangible assets listed in Annex B attached to the 2017 Budget Law;
requires communication to be made to the Ministry of Economic Development, whose model, content, terms and conditions for sending the communication will be established by a subsequent specific directorial decree