(Finance) – The Council of Ministers at Palazzo Chigi ended after about two and a half hours which, on the proposal of the Economy Minister Giancarlo Giorgettigave the green light to the dl Aid quater. In the provision resources of € 9.1 billion coming from the tax surplus to finance interventions against expensive energy. The text also includes the 90% superbonus remodeling starting from January 1, 2023.
Tax-free corporate benefits – Increase in the year 2022 of the tax exemption ceiling of the so-called company fringe benefits up to 3 thousand euros. This is a corporate welfare measure that aims to make workers’ salaries heavier, also through the reimbursement of utilities (water, electricity and gas).
Extraordinary contribution, in the form of a tax credit, in favor of companies for the purchase of electricity and natural gas, for the month of December 2022 – With an allocation of 3.4 billion euros, the extraordinary contribution, in the form of a tax credit, in favor of businesses and activities such as bars, restaurants and shops for the purchase of energy has been extended until 31 December 2022 electricity and natural gas. The enhanced rates of the tax credit equal to: 40% for energy-intensive and gas-intensive companies have been confirmed; 30% for small businesses that use energy with power starting from 4.5 kW.
Provisions on excise duty and value added tax on certain fuels – 1.3 billion euro of financing for the extension from 19 November 2022 and until 31 December 2022 of the tax discount on excise duties on petrol and diesel which confirms the cut of 30.5 cents per liter (also considering the effect on VAT ). For LPG, the discount is worth 8 euro cents per kg which rises to about 10 cents considering the impact on VAT. The 5% VAT reduction for the purchase of natural gas for transport (methane) has also been confirmed. Supportive measures to cope with high bills. To cope with the increase in energy costs, companies may request suppliers to pay in installments, for a maximum of 36 monthly installments, of the amounts due relating to the energy component of electricity and natural gas for consumption made from 1 October 2022 to 31 March. 2023 and invoiced by 30 September 2023. In order to ensure the widest application of the measure, SACE SpA is authorized to grant a guarantee equal to 90 per cent of the indemnities generated by exposures relating to receivables claimed by electricity and gas suppliers natural residents in Italy. The guarantee is issued on condition that the company has not approved the distribution of dividends or the repurchase of shares in the years for which the payment in installments is requested, both for itself and for those of the same group.
Measures to increase natural gas production – In order to contribute to strengthening the security of natural gas supplies, a loan is envisaged to cover the expenses incurred by the GSE (Energy Services Manager). The deadline by which the GSE will be able to sell natural gas at controlled prices has been extended from 31 December 2022 to 31 March 2023. In addition, in order to increase national production of natural gas, an increase in the quantities extracted from existing crops in sea areas and the authorization of new concessions between 9 and 12 miles are also envisaged.
Urgent measures relating to means of payment – 80 million allocated for the granting of a tax credit to merchants for the transmission of the electronic invoice to the Revenue Agency. The contribution is equal to 100% of the costs incurred, up to 50 euros for each electronic recorder purchased.
Cash cap – From January 1, 2023, the threshold for payment in cash goes from 1,000 to 5,000 euros.
Superbonus – The anticipation of the remodeling to 90% is foreseen for the expenses incurred in 2023 for condominiums and the introduction of the possibility also for 2023 to access the benefit for the owners of individual homes provided that it is a first home and are under a certain income threshold (15 thousand euros a year, raising them based on the family quotient). The superbonus, on the other hand, applies to 110% until March 31, 2023 for single-family houses that have completed 30% of the works by September 30, 2022.
Tax exemptions – For the entertainment sector (cinemas, theaters, concert halls) the second IMU installment for the properties is not due, provided that the owners are also managers of the activities. An additional 100 million has been allocated for renewal of the economic renewal of the contract for the education and research sector. Emergency stamp duty exemption. A provision is introduced which provides, when fully operational, the exemption from stamp duty for applications submitted for the request for contributions, aid or subsidies, however denominated, in favor of populations affected by disasters.