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Refreshment Decree: main fiscal measures supporting the economy

Law decree No. 137, dated October 28, 2020 provides for a series of fiscal measures aimed to support Italian economy and enterprises.

Tax credit for commercial leases
Tax credit for commercial leases, already provided by Law decree n. 34/2020, is extended, for enterprises operating in economic sectors whose activities have been suspended or reduced due to the Covid-19 emergency to rental fees paid for the months of October, November and December 2020.
The credit is recognised on the condition that the turnover referring to the months of October, November and December 2020 is lower more than 50% of the amount of the turnover of October, November and December 2019.

IMU
Is provided the abolition of property tax (IMU on immovable properties) where one of the activities suspended or reduced due to the Covid-19 emergency is carried on if the owner of the real estate is also managing the activity.

Non-refundable contribution for taxpayers (individual and companies) operating in economic sectors impacted by anti-Covid-19 measures
A non-refundable contribution is provided for taxpayers operating in economic sectors whose activities have been suspended or reduced due to the Covid-19 emergency.
The contribution is subject to the condition that the turnover referring to the month of April 2020 is less than 2/3 of the amount of April 2019’s one.

The amount of the contribution is determined with the application of the following percentages to the amount provided by Law decree n. 34/2020.

  • 100% for Taxi and chauffeur services;
  • 150% for pubs pastry shops and ice cream parlours;
  • 200% for restaurants and catering services;
  • 200% for cinemas, theatres, gyms, swimming pools, arcade, betting centres, spas and trade fairs;
  • 400% for ballrooms and nightclubs.

The contribution cannot exceed 150K euro.