The "Superbonus" 110% tax credit for building works
The Decreto Rilancio (Relaunch Decree) in the context of the Italian Government’s response to the COVID-19 emergency, introduced new rules allowing a tax credit for expenses incurred from 1 July 2020 to 31 December 2021, for works on real estate involving energy efficiency, earthquaqe protection, installation of photovoltaic and electric vehicle charging systems (known as the “Superbonus”).
Article 119 of the Decree, in increases the tax credit to 110% of the expenses and identifies the types and the technical requirements for the wok available to benefit from the credit.
These new provisions apply in addition to those already in force governing that govern the ta credits for the recovery of the buildings, including:-
anti-seismic works (“sismabonus”)
energy of buildings (“ecobonus” )
purchase of household appliances.
An important innovation introduced by the Relaunch Decree is the possibility of opting, instead of the direct use of the tax credit by offsetting against a taxpayer’s tax on other income, for an advance contribution in the form of a discount from the supplier of goods or services or, alternatively, for the transfer of the corresponding tax credit to a financial institution
LEGGE 9 agosto 1967, n. 793 – Ratifica ed esecuzione della Convenzione tra l’Italia e la Gran Bretagna per evitare la doppia imposizione e prevenire le evasioni fiscali in materia di imposte sulle successioni, conclusa a Londra il 15 febbraio 1966. (GU n.230 del 13-9-1967 )