Agrate Brianza, 23rd July 2019
SUBJECT: LAW NO. 58 DATED 28TH JUNE 2019 AND THE “ECOBONUS”
We wish to inform you about the conversion into law, which took place on 27.6.2019, of the Decree Law 34/2019, the so-called “GROWTH DECREE”, and in particular, Article 10 relating to the tax deductions for sunshades, the so-called “Ecobonus”.
“1. Article 14 of Decree Law no. 63 dated 4th June 2013 and converted with modifications by Law no. 90 on 3rd August 2013, after paragraph 3, states the following:
3.1. For the energy efficiency measures referred to in this article, the person entitled to the deductions can opt, rather than availing directly of the same, for a contribution of an equal amount, in the form of a discount on the amount due, advanced by the supplier who carried out the operations, whilst the latter is reimbursed in the form of a tax credit to be used exclusively as compensation, in five annual instalments of an equal amount, pursuant to Article 17 of Legislative Decree no. 241 dated 9th July 1997, without applying the limits set out in Article 34 of Law no. 388, and in Article 1, paragraph 53, of Law no. 244 dated 24th December 2007. (The supplier who carried out the operation has, in turn, the right to assign the tax credit to its suppliers of goods and services, with the exclusion of the possibility of further transfers by the latter. In any case, the transfer to credit institutions and financial intermediaries is excluded.) (…)
3. With a provision of the Director of the Revenue Agency, to be issued within thirty days from the date of entry into force of the Law converting this Decree, the measures for the implementation of the provisions referred to in paragraphs 1 and 2 are defined, including those relating to the exercise of the option to be made in agreement with the supplier.”*
This legal Article offers the end customer an extra option, in addition to the current opportunity to deduct the cost over a 10-year period, instead giving the possibility to opt for a 50% discount on the invoiced amount including VAT, directly through their supplier.
This “credit” that has thus been obtained from the State can only be offset as a tax credit in the following 5 years.
A new amendment has also been introduced which gives the option of just one additional step within the supply chain, that is, you have the right to transfer this “tax credit” to your supplier of goods or services, and to the latter the right to accept, with the specific exclusion of further transfers by the latter.
THE TRANSFER TO CREDIT INSTITUTIONS OR FINANCIAL INTERMEDIARIES REMAINS IN ANY CASE EXCLUDED.
The option that your customer can exercise obliges the supplier – that is, you – to apply the discount on the invoice unless, before any trade negotiation on the price, it is clearly indicated and countersigned that the customer renounces the discount option on the invoice, as required by Legislative Decree 34/2019. Whilst the transfer to a supplier of goods and services is optional, for both, your supplier can in any case decide not to accept the credit transfer.
WE HEREBY DECLARE THAT RESSTENDE – WITH REFERENCE TO DECREE LAW 34/2019 CONVERTED INTO LAW 58/2019 ON THURSDAY, 27TH JUNE AND IN REGARDS TO THE POSSIBILITY OF RELEGATION TO ITS SUPPLIERS OF THE TAX CREDIT OBTAINED IN DEALINGS WITH CUSTOMERS WHO HAVE THE RIGHT TO AVAIL OF A TAX DEDUCTION ON PURCHASED PRODUCTS, AS ESTABLISHED BY LAW DECREE NO. 63 DATED 4TH JUNE 2013 AND CONVERTED, WITH AMENDMENTS, BY LAW NO. 90 OF 3RD AUGUST 2013 – DECLARES FROM THIS POINT FORTH NOT TO ACCEPT THE TRANSFER OF TAX CREDITS, INCLUDING THOSE OF SUCH NATURE, NOT HAVING ITEMS AND TAXES TO BE COMPENSATED.
THEREFORE, AS OF TODAY, AND EXCEPT UPON SUBSEQUENT DIFFERENT COMMUNICATIONS, ALL OF OUR DEALINGS WILL BE REGULATED AS BOUND BY THE INAPPLICABILITY, ON OUR BEHALF AND YOURS, OF SUCH RELEGATION.
WE UNDERLINE THAT THE POSSIBILITY OF OBTAINING A DEDUCTION BY THE END CUSTOMER OVER 10 YEARLY INSTALMENTS PERSISTS UNALTERED.
PROTECTION MEASURES FOR ESTIMATES – OFFERS – PRICES:
We invite you to carefully evaluate the 50% discount option on the invoice before clarifying your position. If you consider the option unsustainable for your company, we suggest that you specify this from the outset of the rapport with the end customer regarding the non-acceptance of the transfer of the tax credit for energy efficiency operations with the aforementioned discount, clearly indicating in the offer, in the quote, in the sales contract and in any other commercial document, SAFEGUARDS which may be the following:
“For all products subject to the Ecobonus, this estimate/offer/quote excludes the Company …………………………………… from accepting as a form of payment the option granted by Law Decree 34/2019 (Decreto Crescita) subsequently converted into Law 58/2019 for the transfer of the tax credit for energy efficiency operations (the so-termed Ecobonus) for an equivalent discount on the invoice, due to the Company ……………………………………. not having the fiscal capacity to avail of the bonus in the manner and for the purposes prescribed.
Thus, by accepting this offer/quote/proposal, the customer – being fully aware of the entire price to pay – expressly renounces the option granted to them by Law 58/2019 for the transformation of the tax credit (Ecobonus) into a discount on the invoice.”
(Customer signature is required.)
In any case, we are awaiting the implementation memorandum from the Revenue Agency, without which it is not possible to implement the provision.