To deal with the current crisis situation, now even financial (and no longer just medical), the Legislator has issued a new Decree Law (Decree Law August 14, 2020, n. 104, so called “Decree August”) containing urgent measures for the support and recovery of the economy.
This Circular briefly illustrates the fiscal provisions that have a direct financial impact on businesses, as well as the additional fiscal, civil and financial provisions that provide additional help to all taxpayers.
LDP has put its multidisciplinary expertise to work to bring it even closer.
A. Tax provisions (and not) with financial impact
|Non-repayable grant for the sale of goods and services in the historical tourist centers||art. 59|
|Refinancing of measures to support enterprises||art. 60|
|Central SME Guarantee Fund – Non-commercial entities||art. 64|
|Extension of the SME moratorium||art. 65|
|PIR – Increase of annual investment limit||art. 68|
|Refunds for electronic payments by private individuals (so-called “cashback”) – refinancing||art. 73|
|Incentives for the purchase of low Co2 g/km vehicles – refinancing||art. 74|
|Tax credit for rental of non-residential use real estate – changes||art. 77|
|Tax credit for advertising investments in favour of professional sports leagues and clubs and amateur sports clubs and associations||art. 81|
|Internationalization of trade fairs and innovative start-ups||art. 91|
|Advertising investment tax credit – increase in maximum expenditure limit||art. 96|
|IMU Rates – Increase in place of TASI surcharge||art. 108|
|TOSAP and COSAP Exemption for public operating companies – extension||art. 109|
|Business assets revaluation||art. 110|
|Liberals in kind to employees – increase limit excluded from taxation||art. 112|
B. Other fiscal provisions
|Anti COVID State aid to micro and small enterprises – Derogation from the Community framework for troubled enterprises||art. 62|
|Simplified procedures for shareholders’ meetings||art. 71|
|Simplified subscription of banking and insurance contracts||art. 72|
|Securities maturity suspension||art. 76|
|Further installment of suspended payments and withholdings not operated||art. 97|
|Deferral of the payment deadline related to the 2nd IRES and IRAP advance for ISA subjects||art. 98|
|Suspension of collection periods||art. 99|
|Deferral of car tax payment deadline for long-term rental vehicles without driver||art. 107|
|Friendly procedures between States||art. 113|
A.Tax provisions (and not) with financial impact
Art. 59 – Non-repayable grant for the sale of goods and services in the historical tourist centers
- Subjects carrying out goods or services market activities to the public carried out in areas A or equivalent of the municipalities capital of the province or metropolitan city, provided that:
- have registered tourist presences of citizens resident in foreign countries:
- in number at least three times greater than the number of residents in the same municipalities provincial capital;
- in number equal to or greater than the number of residents in the same municipalities of metropolitan cities.
- The amount of the turnover and fees for the month of June 2020 is less than 2/3 of the amount of the turnover and fees realized in the month of June 2019.
- have registered tourist presences of citizens resident in foreign countries:
- Interested parties are entitled to a non-refundable grant. The amount is determined by applying a different rate to the difference between (i) the amount of turnover and fees for the month of June 2020 and the same amount for the month of June 2019, as follows:
- 15% in case of revenues for year 2019 not exceeding 400,000 euros;
- 10% in the case of revenues for year 2019 exceeding 400,00 euros and up to 1 million euros;
- 5% for revenues for year 2019 exceeding €1 million and up to €5 million.
- The contribution is in any case granted, to subjects who meet the requirements, in an amount not less than 1,000 euros for individuals and 2,000 euros for subjects other than natural persons. These minimum amounts are recognized to the subjects who have started the activity in zones A of the above mentioned municipalities starting from July 1, 2019. The amount of the contribution cannot exceed the amount of Euro 150,000.
- The request for the contribution is made through the submission of a specific telematic application.
Art. 60 – Refinancing of measures to support enterprises
- Beneficiaries of the following support measures for enterprises.
- New resources have been allocated for the following measures:
- low-interest loans for investments made by SMEs (so-called “Nuova Sabatini” – art. 2 of DL 21.6.2013 n. 69), for which € 64 million are allocated for 2020;
- financing for development contracts aimed to support large scale productive investment programs (art. 43 of DL 25.6.2008 n. 112), for which 500 million euro are allocated for 2020;
- measures supported by the fund set up by art. 43 of DL 34/2020, for the rescue and restructuring of companies owning historical brands of national interest, of joint-stock companies with no less than 250 employees, which are in economic-financial difficulty, or companies which, regardless of the number of employees, hold assets and relationships of strategic importance for the national interest, whose funding is increased to 300 million euro for 2020;
- contributions in vouchers in favor of SMEs for the acquisition of specialist advice on technological and digital transformation processes, as well as the upgrade of the management and organizational structure of the company, including access to financial and capital markets (art. 1 para. 228 and 230-231 of Law 145/2018), for which 50 million euros are allocated for 2021;
- facilities for the promotion of the establishment and development of cooperative as per DM 4.12.2014, for which the resources of the Fund for sustainable growth as per art. 23 of DL 22.6.2012 n. 83 are increased by 10 million euros for 2020;
- aid to companies participating in the implementation of projects of common European interest (art. 107 § 3 letter b) of the EU Treaty 7.6.2016), for which the endowment of the IPCEI fund, as per art. 1 para. 232 of Law no. 160 of 27.12.2019, is increased by 950 million euros for 2021.
Art. 64 – Refinancing of the guarantee fund for SMEs and measures to support businesses and employment also in the “Mezzogiorno”, as well as third sector entities
- Subjects that belong to the category of small and medium enterprises SMEs and all non-commercial entities, including civilly recognized religious entities.
- The regulation requires:
- Refinancing with new resources for the Guarantee Fund for small and medium-sized enterprises;
- Measures in support of enterprises and employment also in the “Mezzogiorno”; Invitalia will be able to directly develop strategic initiatives to support employment and enterprises, including measures involving direct or indirect participation in the capital of enterprises, also in the “Mezzogiorno”;
- The extension of accessibility to the Central Guarantee Fund for SMEs to all non-commercial entities, including Third Sector entities and civilly recognized religious entities, regardless of the way the activity is carried out.
Art. 65 – Extension of the SME moratorium
- Small and medium enterprises damaged by the COVID-19 epidemic that had no deteriorated exposures at the date of publication DL 18/2020 (March 17, 2020).
- The law extends the extraordinary moratorium already provided by art. 56 DL 18/2020, introduced to support SMEs with the following financial support measures:
- that the revocable credit facilities and loans granted against advances on receivables, both for the part used and the part not yet used, are not withdrawn until 31 January 2021;
- that non instalment loans with contractual maturity before 30 September 2020, together with the respective accessory elements, are extended until 31 January 2021 under the same conditions;
- that the payments of instalments and leasing instalments of loans and other loans with instalment repayment due before 31 January 2021 are suspended until 31 January 2021;
- It is faculty of the enterprises to request to suspend only the repayments in capital account.
Art. 68 – PIR – Increase of annual investment limit
- Individuals resident in Italy
- The Decree increases to 300,000 euros the annual investment limit that can be made in an “alternative” Long Term Savings Plan (PIR),
- PIR are a specific type of investment for natural persons provided for by Art. 1, paragraphs 100 – 114 of Law 232/2016, whose income benefits from the exemption:
- from taxes on income deriving from financial instruments and liquidity that contribute to form the PIR (both capital income and other income);
- inheritance tax on the financial instruments making up the plan in the event of transfer due to death.
- The tax regime of the PIR applies to individuals resident in Italy who earn income of a financial nature outside the exercise of a business activity, in relation to investments held, for at least 5 years, under an individual savings plan (PIR) specifically set up with a qualified intermediary.
- The “alternative” PIR must invest for at least two thirds of the calendar year of the plan’s duration, investing 70% of the total value in financial instruments issued by companies resident in Italy, excluding those included in the FTSEMIB and FTSE Mid Cap indices of Borsa Italiana.
- Investors may invest in PIRs for a maximum total amount of 1.5 million euros.
Art. 73 – Refunds for electronic payments by private individuals (“cashback”)
- In order to facilitate the introduction of measures to encourage the use of electronic payment instruments by private individuals, the Decree provides that the Ministry of Economy and Finance shall issue Ministerial Decrees establishing the conditions and methods for the reimbursement of expenses incurred by electronic instruments.
Art. 74 – Incentives for the purchase of vehicles with low Co2 g/km emissions
- All taxpayers
- The “automotive” fund for the incentives provided by art. 44 of DL 34/2020 converted for the purchase of vehicles with low Co2 g/km emissions is refinanced for 400 million euros;
- In the event a vehicle is purchased with simultaneous scrapping of a vehicle registered before January 1, 2010 or that exceeds ten years of seniority from the date of registration, the state contribution is parameterized to the number of grams (g) of carbon dioxide (CO2) emitted per kilometer (km) according to the amounts listed in the following table and is recognized on condition that a discount of at least 2,000 euros is applied by the seller:
|Co2 g/Km||Contribution (euro)|
- in the event a vehicle is purchased in the absence of scrapping, the state contribution is parameterized to the number of g of CO2 emitted per km according to the amounts in the following table and is recognized on condition that the seller gives a discount of at least 1,000 euros:
|Co2 g/Km||Contribution (euro)|
- A fund is also set up to provide contributions for the installation of infrastructure for the recharging of electric vehicles carried out by individuals in the exercise of business activities, arts and professions, as well as IRES taxable persons.
Art. 77 – Tax credit for rental of non-residential use real estate
- Individuals engaged in business, art or profession and non-commercial entities that:
- have achieved revenues for the period 2019 of less than 5 million euros (not required for hotels, agritourism and spas);
- have suffered a decrease of at least 50% of turnover in the reference month
- the tax credit for leases of non-residential use real estate, introduced to art. 28 of DL 34/2020, equal to:
- 60% of the monthly amount of the rent, leasing or concession of real estate for non-residential use intended for the performance of industrial, commercial, craft, agri¬cola, tourist interest or the habitual and professional exercise of self-employment;
- 30% in the case of contracts for complex services or business lease, including at least one property for non-residential use parameterized to the rents of non-residential use properties
has been extended to the fee for the month of June (and for tourist accommodation facilities with only seasonal activities also to the month of July).
Art. 81 – Tax credit for advertising investments in favour of professional sports leagues and clubs and amateur sports clubs and associations
- Companies, self-employed workers and non-commercial entities
- For the year 2020, a “theoretical”» tax credit equal to 50% of investments in advertising campaigns, including sponsorships, is recognized:
- leagues that organize national team championships in the Olympic disciplines;
- professional sports clubs and amateur sports clubs and associations registered in the CONI register operating in disciplines admitted to the Olympic Games and performing youth sports activities.
- The investment must be:
- For a total amount not less than 10.000,00 euro;
- made from 01.07.2020 to 31.12.2020, through payment instruments other than cash;
- allocated to professional sports leagues and clubs and amateur sports clubs and associations with revenues relating to the 2019 tax period produced in Italy of at least 200,000 euros and up to a maximum of 15 million euros.
- Sponsorships to subjects who enter the regime provided by Law 398/91 are excluded. 
- In the event of insufficiency of the available resources, the facilitated rule provides that the allocation among the beneficiaries will be proportional to the tax credit abstractly due as calculated above, with an individual limit per person equal to 5% of the total annual resources (90 million).
Art. 91 – Internationalization of innovative start-ups
- Innovative start-ups
- The scope of operations of the Venture Capital Fund, managed by SIMEST, is extended to all foreign countries and territories and the possibility for the Fund to support initiatives promoted by innovative start-up.
- SIMEST supports national companies in their internationalization strategies, favoring their entry into foreign markets, through the purchase of shareholdings up to a maximum limit of 49% of the foreign companies’ capital.
Art. 96 – Advertising investment tax credit – increase in maximum expenditure limit
- Companies, self-employed workers and non-commercial entities
- Interested parties who make investments in advertising campaigns in newspapers and magazines, including online, and in TV and radio stations, whether analog or digital, are entitled to a tax credit equal to 50% of the value of all investments made in advertising.
- The decree increased the maximum expenditure limit to 85 million and therefore the benefit is granted up to a limit of 50 million euros for advertising investments made in daily newspapers and periodicals, including online, and up to a limit of 35 million euros for advertising investments made on local and national television and radio stations, whether analog or digital, not participated by the State.
Art. 108 – IMU Rates – Increase in place of TASI surcharge
- All taxpayers
- la the provision that, as from the year 2020, the Municipalities may decide an increase in the maximum rate of IMU equal to 0.08%, in place of the TASI surcharge on the main luxury homes, goods buildings and buildings belonging to cadastral group D.
Art. 109 – TOSAP and COSAP exemption extension
- Tourist businesses, damaged by the epidemiological emergency by COVID-19, public operating companies, holders of concessions or authorizations concerning the use of public land
- Stakeholders are exempt from TOSAP and COSAP payment from May 1, 2020 to December 31, 2020.
- Until 31 December 2020, applications for new concessions for the occupation of public land or for the extension of the areas already granted are submitted electronically to the competent office of the local authority, with only the plan attached and without stamp duty.
Art. 110 – General revaluation of business assets and participations 2020
- The revaluation is the responsibility of resident corporations and commercial entities that do not adopt IAS/IFRS for the preparation of the financial statements.
- Through the reference of the rule to Article 15 of Law 342/2000, commercial partnerships, sole proprietorships, resident non-commercial entities and non-residents with permanent establishments in Italy may also apply this regime.
- The decree introduces the possibility, by way of derogation from article 2426 of the Civil Code and any other provision of law in force on the subject, to revalue the company assets and shareholdings referred to in Section II of Chapter I of Law no. 3421 of 21 November 2000, with the exclusion of real estate whose production or exchange the company activity is directed to, resulting from the financial statements of the current financial year at 31 December 2019.
- The revaluation must be carried out in the financial statement or in the statement of account as at 31 December 2020, can be carried out separately for each asset and must be noted in the explanatory notes.
- The higher value attributed to the assets at the time of revaluation may:
- have only civil and accounting relevance, or
- be recognized for the purposes of income tax and IRAP as from the financial year in progress as of 31 December 2021, through the payment of a substitute tax on income tax and IRAP and any additional 3% for depreciable and non-depreciable assets.
- The revaluation expires if the revalued assets are sold, assigned to the shareholders, allocated for purposes unconnected with the company’s business or to the entrepreneur’s consumption before the beginning of the 4th financial year following the one in whose the revaluation was carried out (i.e. before 1 January 2024 for entity whose business year coincides with the calendar year), and for the purposes of determining capital gains or losses, reference will be made to the cost of the asset before the revaluation.
- The equity reserve under tax suspension, which arises from the revaluation surplus, may be released, in whole or in part, with the application by the company of an additional 10% flat-rate tax in lieu of income tax, IRAP and any additional taxes.
- Substitute taxes are paid in a maximum of 3 equal instalments, the first due by the deadline for payment CIT related to the tax period in respect of which the revaluation is performed, and the others are due by the deadline for CIT payment related to subsequent tax periods. The substitute taxes may be offset in accordance with Section I of Chapter III of Legislative Decree No. 241 of 9 July 1997.
Art. 112 – Liberals in kind to employees – increase limit 2020 excluded from taxation
- Entity who carry out economic activities with employees
- Limited to the 2020 tax period, the amount of goods sold and services provided by the company to employees who do not contribute to the formation of income in accordance with art. 51 paragraph 3 of the TUIR is raised from 258.23 euro to 516.46 euro.
B. Other fiscal provisions
Art. 62 – Anti COVID State support to micro and small enterprises – Derogation from the Community provisions for companies in difficulty
- Micro and small enterprises, according to the Annex I of the EU regulation 651/2014, which were in difficulty on 31 December 2019.
- The provision extends to microenterprises and small enterprises the State support programs provided for by Articles 54 – 60 of DL 34/2020 (DL Rilancio) on condition that:
- are not subject to insolvency proceedings; or,
- have not received rescue aid, unless at the time the aid was granted the company has repaid the loan or withdrawn the guarantee; or,
- have not received restructuring aid, unless they are no longer subject to the restructuring plan at the time the aid was granted.
- The reference refers, in particular, to the following aids:
- in the form of direct grants, repayable advances or Tax Relief (Art. 54);
- in the form of guarantees on loans to companies (art. 55);
- in the form of reduced interest rates for loans to companies (art. 56);
- to companies for research and development on COVID-19 (art. 57);
- to enterprises for investments in test and upscaling infrastructure (art. 58);
- to enterprises for investments for the production of products related to COVID-19 (art. 59);
- in the form of subsidies for the payment of employees’ wages to avoid dismissals during the COVID-19 pandemic (Art. 60).
- The category of small enterprises consists of enterprises employing less than 50 persons and having an annual turnover and/or annual balance sheet total not exceeding EUR 10 million.
- The category of microenterprises consists of enterprises employing no more than 10 persons and whose annual turnover and/or total annual balance sheet is no more than EUR 2 million.
Art. 71 – Easy procedures for holding company shareholders’ meetings
- Spa, Sapa, Srl, cooperatives and insurance companies
- The provisions of paragraphs 2 – 6 of art. 106 of Legislative Decree 18/2020, summarized below, continue to apply to the Shareholders’ Meetings of Spa, Sapa, Srl, cooperatives and insurance companies convened by 15.10.2020:
- provide, also by way of derogation from the Article of Associatoin, the expression of the vote by electronic way or by correspondence and the attendance at the shareholders’ meeting through telecommunication devices or to carry out the shareholders’ meetings also exclusively through telecommunication devices (co. 2);
- allow Srl, also in derogation of the provisions of Article 2479, paragraph 4 of the Italian Civil Code and of the various provisions of the statutory regulations, to express their vote by written consultation or by written consent (co. 3);
- Require, in certain companies (e.g. listed companies), participation in the shareholders’ meeting through the “designated representative” (co. 4, 5 and 6).
Art. 72 – Simpler subscription of banking and insurance contracts
- all persons who subscribe to banking and insurance contracts
- The Decree provides that the provisions regarding the simplified underwriting of banking (art. 4 of DL 23/2020 conv.), financial and insurance contracts (art. 33 of DL 34/2020 conv.), as well as the placement of dematerialized postal savings bonds (art. 34 of DL 34/2020 conv.) continue to apply until 15.10.2020.
Art. 76 – Suspension of the maturity of debt securities
- All taxpayers
- The provision amends art. 11 of Legislative Decree 23/2020 on the subject of suspension of the maturity terms of debt securities, providing that:
- the expiration terms relating to promissory notes, bills of exchange and other debt securities and any other deed having executive effect are suspended until 31.8.2020. The suspension operates in favour of debtors and obligated parties also in the form of legal recourse or guarantee, without prejudice to the right of the same to expressly withdraw from it;
- Cheques brought to collection cannot be contested until 31.8.2020. The administrative, pecuniary and accessory sanctions and the penalty for issuing cheques without provision shall be applied in half if the debtor, within 60 days from the date of expiry of the suspension period, makes payment of the cheque, interest, and any expenses for the protest or equivalent claim.
Art. 97 – Further installment of suspended payments in March, April, May and June 2020
- All subjects who had already enjoyed the postponement until 30 June 2020 of payments of taxes and contributions, i.e. respectively:
- subjects carrying out business activities, art or profession, who have their fiscal domicile, registered office or operating headquarters in the territory of the State with revenues or compensation respectively
- not exceeding 50 million euro in the tax period prior to the one in progress at the date of entry into force of this decree, which have suffered a decrease in turnover or fees at least 33 per cent in March 2020 compared to the same month of the previous tax period and in April 2020 compared to the same month of the previous tax period; or
- more than 50 million euro in the tax period prior to the one in progress at the date of entry into force of this decree, which have suffered a decrease in turnover or fees at least 50 per cent in March 2020 compared to the same month of the previous tax period and in April 2020 compared to the same month of the previous tax period;
- taxpayers carrying on business, art or profession, who have their fiscal domicile, registered office or operational headquarters in the territory of the State and who have undertaken the activity of business, art or profession, after 31 March 2019;
- taxpayers carrying on business activities, art or profession, who have their fiscal domicile, registered office or operating headquarters in the provinces of Bergamo, Brescia, Cremona, Lodi and Piacenza, and who have respectively suffered a decrease in turnover or fees of at least 33 per cent in the month of March 2020 compared to the same month of the previous tax period and in the month of April 2020 compared to the same month of the previous tax period;
- taxpayers who have their fiscal domicile, registered office or operating headquarters in the territory of the State with revenues or compensation not exceeding Euro 400,000 in the tax period prior to the one in progress on 17 March 2020, and who have requested their debtors, substitute tax, not to subject to the withholding tax referred to in Articles 25 and 25-bis of Presidential Decree no. 600 of 29 September 1973, revenues and compensation received in the period between 17 March 2020 and 31 May 2020;
- taxpayers subjects that carry out a specific business activity expressly indicated in article 8 of the Decree Law no. 9/2020 and article 61 of the “Cura Italia” Decree (by way of example, companies in the tourism sector, subjects that manage theaters, cinemas, lottery receptions, catering activities, fairs and events, museums and libraries, nurseries, amusement parks, transport services, etc.);
- taxpayers carrying on business activities, art or profession that have their fiscal domicile, registered office or operating headquarters in the territory of the State with revenues or compensation not exceeding 2 million euros in the previous tax period and persons carrying on business activities, art or profession that have their fiscal domicile, registered office or operating headquarters in the Provinces of Bergamo, Cremona, Lodi and Piacenza.
- The following payments, already suspended until 16 September 2020:
- withholdings on employees’ income, deductions related to the regional and municipal surtax, VAT, social security and welfare contributions suspended by art. 18 of the Liquidity Decree for the months of April and May 2020;
- withholdings resulting from the lack of taxation on revenues and compensation received in the period between 17 March and 31 May by persons with revenues or compensation not exceeding €400,000;
- withholdings suspended from 2 March to 30 April and VAT due in March 2020;
- self-liquidating payments relating to withholding tax for employee and similar income, withholdings relating to the regional and municipal surtax, value added tax, social security and welfare contributions, as well as premiums for compulsory insurance
can be made, without the application of sanctions and interests, in two tranches
- 50% of the amounts due in a single installment by 16 September 2020 or up to a maximum of 4 monthly installments, the last of which by 16 December 16 2020;
- The remaining 50% in 24 instalments starting from 16 January 2021.
Art. 98 – Deferral of the payment deadline related to the 2nd IRES and IRAP advance for ISA subjects
Persons engaged in economic activities:
- (i) for which the synthetic indexes of fiscal reliability (ISA) have been approved and which declare revenues or compensation of an amount not exceeding the limit established for each index (taxpayers who declare revenues of an amount not exceeding Euro 5,164,569)
- (ii) apply the flat-rate regime provided for in Art. 1, co. 54-89 of Law 190/2014 (if they carry out economic activities for which ISA are provided)
- (iii) apply the advantage scheme for youth entrepreneurship and mobile workers pursuant to Art. 27, para. 1 of Law 98/2011 (if they carry out economic activities for which ISA are provided)
- (iv) there are other causes of exclusion or inapplicability of ISA (e.g. start or cessation of activity, non-normal performance of activity, lump sum determination of income, etc.).
- that have suffered a decrease in turnover or revenues of at least 33% for the first half of 2020 compared to the same period in 2019.
- For Stakeholders, the payment deadline of the IRES (income tax) and IRAP (regional tax) second advance is extended to 30 April 2021, due for the tax period following the one in progress as at 31.12.2019.
Art. 99 – Extension of the suspension period regarding the activities of the Collection Agent
- All taxpayers
- The terms of payments, which expire in the period from 8 March and 15 October 2020, arising from payment slips issued by Collection agents, as well as from Inps debit notices, injunctions and executive assessments of local authoroties are suspended.
- Suspended payments shall be made as a lump sum by November 30, 2020;
- Deferred payments due from 8 March 2020 to 15 October 2020 may be paid in one installment, by 30 November 2020;
- For the acceptance measures issued with reference to requests submitted up to 15 October 2020, the loss of the debtor’s right to forfeit occurs in case of non-payment of 10 installments, even if not consecutive (instead of the 5 ordinarily foreseen);
- The collection and precautionary activities (foreclosures, mortgages, detentions) are suspended until 15 October 2020.
- Between 8 March and 15 October2020, public administrations and companies with a prevalent public participation make payments in excess of Euro 5,000 to their creditors without verifying (pursuant to art. 48-bis DPR 602/73) that the latter are in default of their payment obligation resulting from the notification of one or more payment slips.
Art. 107 – Deferral of the term of payment of the car tax for long-term rental vehicles without driver
- Persons who have long-term motor vehicle rental agreement
- For vehicles rented on a long-term basis without driver, the amounts due by way of car tax (so-called “car tax”) due in the first 9 months of the year 2020 shall be paid by 31.10.2020 without the application of penalties and interest.
Art. 113 – Friendly procedures between States
- All taxpayers
- With regard to procedures between States to avoid double taxation, has been amended art. 3 of Legislative Decree 40/2020, stating that the relative application can be submitted until a final judgement of the Tax Commission is pronounced.
LDP remains at your disposal for any further information or in-depth study of the above topics.
 List of the capital cities of the province or metropolitan city admitted to the contribution: Venice, Verbania, Florence, Rimini, Siena, Pisa, Rome, Como, Verona, Milan, Urbino, Bologna, La Spezia, Ravenna, Bolzano, Bergamo, Lucca, Matera, Padua, Agrigento, Syracuse, Ragusa, Naples, Cagliari, Catania, Genoa, Palermo, Turin, Bari.
 The maximum amount of the tax credit is calculated by comparing: the total limit of available resources (90 million Euro) to the total amount of tax credits requested.
 Law 398/91 Facilitated fiscal regime for the purposes of income tax, IRAP and VAT for non-profit sports associations that have achieved commercial income of less than € 400,000.