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The new solution dedicated to the sale of Sismabonus and Ecobonus Tax credits
Studio Tributarioe Societario
Taking a socially beneficial action witha discount on taxes for the next 5-10 yearsOur solution, delivered via a completely new digital experience, ensures quicker and more secure acquisitions of Sismabonus and Ecobonus Tax credits, financial savings, a risk-free investment and an optimized customer service, contributing to safety and preservation of the environment through the achievement of a higher level of energy efficiency of buildings.
The Italian Government has introduced strong incentives, up to 85% of costs incurred in relation to seismic safety and upgrading the energy efficiency of buildings in Italy. The incentives are granted in the form of tax credits (referred to respectively as Sismabonus and Ecobonus) that can be claimed on a fixed basis over 5 years for the Sismabonus, and over 10 years for the Ecobonus and for Ecobonus+Sismabonus.
To facilitate the procurement of financial resources, the law provides that:• All companies, with some limited exceptions*, may purchase tax credits with a
discount (negotiatable), taking into account the payback period of 5 or 10 years respectively, and the requirement for an adequate return on investment.
• Tax credits can be offset against taxes due on a fixed basis over 5 years for the Sismabonus and over 10 years for the Ecobonus and for Ecobonus+Sismabonus, disregarding the annual threshold of €700.000 normally provided for by the law.
* It is not permitted to sell tax credits to credit institutions, financial intermediaries and public administrations (according to Legislative Decree number 165 dated 30 March 2001). As regards the Ecobonus only, credit institutions and financial intermediaries may purchase this tax credit when sold by persons who fall within the so-called “no tax area” during the year preceding that in which the costs for upgrading energy efficiency are incurred.
10%sconto
The process Example: Sismabonus 85%
Apartments block
Third party purchaser
Tax Authorities
2018
2019
15% Payment
85%TOTAL
17% 2019
17% 2020
17% 2021
17% 2022
17% 2023
=
85% Credit transfer
Payment of the“standard bid-price”(i.e. equal to 85% less discount and changes)
Utilisation of credit in 5 years
85% credit transfer certified by Deloitte
Offsetting of tax credits
Construction company
Cash flowTax credits flows
The process Example: Ecobonus 75%
2018
2019
25% Payment
75%TOTAL
=
75% Credit transfer
75% credit transfer certified by Deloitte
7,5% 2019
7,5% 2021
7,5% 2020
7,5% 2022
7,5% 2024
7,5% 2026
7,5% 2028
7,5% 2023
7,5% 2025
7,5% 2027
Cash flowTax credits flows
Apartments block
Third party purchaser
Tax Authorities
Payment of the“standard bid-price”(i.e. equal to 75% less discount and changes)
Construction company
Offsetting of tax creditsUse of credit in 10 years
The processExample: Ecobonus + Sismabonus 80%
Apartments block
Third party purchaser
Tax Authorities
2018
2019
20% Payment
80%TOTALE
=
80% Credit transfer
Use of credit in 10 yearsOffsetting of tax credits
8% 2019
8% 2021
8% 2020
8% 2022
8% 2024
8% 2026
8% 2028
8% 2023
8% 2025
8% 2027
Cash flowTax credits flows
Construction company
Payment of the“standard bid-price”(i.e. equal to 80% less discount and changes)
80% credit transfer certified by Deloitte
Purchasable tax credits
Deloitte implements the Platform together with ANCE, the Italian National Association of Construction Companies, which represents the Italian construction industry through a network composed of 102 local associations and 20 regional organizations.The Platform aims to facilitate interactions between owners of Sismabonus and Ecobonus tax credits and potential third party investors within a secureenvironment, where all the steps of the process are verified in advance – from a legal and tax perspective – in full compliance with the guidelines of the Italian Tax Authorities.In particular, the Platform assists companies with all the steps involved in the acquisition of tax credits, which are in turn subject to analysis, verification and certification in order to ensure a risk-free investment. The process ends with the inclusion of the tax credit in the tax repository of the purchaser (the so-called “cassetto fiscale”), which as a result can then start to use the credit to offset taxes due.
Max expenditure for each property % tax credits Use of credit
Ecobonus € 40.000 70% -75% 10 years
Sismabonus € 96.000 80% - 85% 5 years
Ecobonus + Sismabonus € 136.000 80% - 85% 10 years
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member fi rms, and their related entities. DTTL and each of its member fi rms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about to learn more about our global network of member fi rms.
© 2018 Studio Tributario e Societario
TO LEARN MORE
For further information about Sismabonus | sismabonus@deloitte.itEcobonus | ecobonus@deloitte.itEcobonus + sismabonus | ecosisma@deloitte.itSale of tax credits (VAT, CIT, etc) | taxcredit@deloitte.it
www.deloitte.com/sismabonus
www.deloitte.com/ecobonus
Visit the Deloitte ANCE Platform to discover the services off ered and to monitor the performance of your investment
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