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Corona Virus Emergency and Tax Credit for Those Who Have a Shop or Premises in Foster: Here's How it Works

Corona Virus Emergency and Tax Credit for Those Who Have a Shop or Premises in Foster: Here's How it Works - The facilitation is provided in favor of shops and shops closed due to the pandemic: the MEF clarifies the scope including cultural associations with VAT number . An extension of the audience of beneficiaries is expected in the future decree of April.

Corona Virus Emergency and Tax Credit for Those Who Have a Shop or Premises in Foster Here's How it Works

Article 65 of the Cura Italia Decree provides for facilitation in favour of shopkeepers, artisans, traders etc. who have had to close their business because of the lockdown imposed. The aid, which is only available for March, is related to the commercial rent and is provided in the form of a tax credit. The percentage that can be deducted is 60% of the rent installment. Of course, the rule specifies that all those who, having an activity defined as essential (e.g. those who treat food) cannot benefit from this benefit, have not been forced to close. It is also well specified that the privilege is reserved for category C1 commercial locations and cannot in any way be extended to the residential locations of those who have lost their jobs as a result of pandemic.
To understand how to obtain tax credit compensation, the Revenue Agency has drawn up a special circular, which explains the procedure that provides the establishment of the code to be included directly in the F24 model. With Circular 8E of 3 April, the same agency provided further instructions on the application of the bonus in question.

Let us try to clarify Article 65 of Cura Italia by analyzing in detail the following points:

  • What is the commercial rental bonus?
  • Who is entitled to this benefit
  • What is the Compensation Tribute Code
  • The binding clause: payment of the fee made
  • The coronavirus and the suspension of evictions
  • The extension for April: what is expected?

What is the Commercial Rental Bonus?

The rental bonus, for March, is a relief dedicated exclusively to craftsmen and shopkeepers who have been forced to close the business to stem the contagion of COVID-19. In fact, let us remember that the dpcm issued on 11 March 2020 and the subsequent measures instituted by the Government, have imposed a forced closure to the majority of shops and shops that, by lowering the shutters, are suffering significant economic repercussions. The benefit to this category is not an economic subsidy but is provided in the form of a reduction in the tax credit. It is therefore a "discount" on the taxes owed and to be paid.

Who is Entitled to this Benefit

The aid is reserved for all those who pay a rent for properties of the C1 land category, i.e. shops and shops. Beware, however, the facilitation is not granted to the operators of the activities that have been considered essential, inserted within annexes 1 and 2 of the dpcm 11 March 2020, as they had the opportunity to stay open and continue to work. In the clarifications provided by the Ministry of Economy and Finance, many concerns were raised by the specification that cultural associations or cultural promotion associations can also be accessed, provided they have a VAT number. In fact, so many people have remained out of the protection, such as professionals.

What is the Compensation Tribute Code

To get the tax cut, you must enter a tax code within the F24 model. This was specified in circular 13/E of 20 March 2020 , published by the Revenue Agency, identifying it with the number 6914. Those entitled must therefore copy the number and enter it in the appropriate section.

The Binding Clause: Payment of the Fee Made

A further clarification issued by the Revenue Agency on 3 April 2020 specified that the reduction of the tax credit can only be obtained after the proven and effective payment of the rent. This means that the bonus cannot be claimed and used if you do not have paid the commercial rent due for march. The purpose of the rule is to offset the cost incurred for the fee, thus limiting the loss. In order to be consistent with this purpose, the rent must therefore have been paid.

The Corona Virus and the Suspension of Evictions

We have already said that this reduction in the tax credit only applies to the premises of commercial premises. In order to make it easier for citizens who also have to pay the residential rent, the Government has ordered the suspension of evictions. This measure is aimed at preventing no one from homelessness during the pandemic despite situations of morass and non-payment. The executive eviction measures are therefore suspended, but only until 30 June 2020. The rule, which is always part of the Decree Cura Italia in the rental section, specifies that to be temporarily interrupted will be only forced executions, therefore not being able to resort to the bailiff to order the eviction of the property. This measure does not erase the morass but postpones forced removals until 1 July 2020.

Cultural Associations with VAT Number

Summing up we can say that the rental bonus at this time has the following characteristics:

  • Applies only to C1 land-based premises;
  • March 2020;
  • Tt cannot be requested by VAT-id merchants of essential activities, so they are not forcibly closed.

However, the Government's lockdown is imposed until 3 May, so the shutters of these activities will remain closed throughout April. It seems obvious, then, that the measure will extend throughout the period by offering a reduction in the tax credit also for the April rent. There are also rumours of an extension to the audience of beneficiaries, including activities other than shops and shops. In addition, there has been speculation that contractual relations should be suspended which, in practice, would allow the payment of rent for the closing period to be stopped.

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