The recent decree “Tax breaks in construction”, published in the Official Journal no. 48 of 27 February 2024, represents an important step forward in the Italian regulatory panorama regarding the construction sector.
With the conversion law n. 17 of 22 February 2024, the legislative decree of 29 December 2023, n. 212 officially comes into force, bringing with it a series of measures aimed at encouraging and supporting renovation, demolition and reconstruction interventions, as well as the elimination of architectural barriers.
These regulatory changes not only offer concrete support to those who work in the construction sector but also aim to facilitate access to tax benefits for economically weaker citizens, while guaranteeing greater protection in the event of seismic events.
Safeguarding the 110% Superbonus
The decree introduces a crucial safeguard measure for beneficiaries of the 110% Superbonusin particular for those who have not completed the interventions within the established deadlines.
By virtue of article 1, paragraph 1, of legislative decree no. 212/2023, it is expected that the deductions already exercised for energy and seismic restructuring interventions will not be subject to recovery, unlesseven in the event of failure to complete the works by 31 December 2023.
This provision represents a significant protection for taxpayers, ensuring that the interventions are not completed does not lead to the loss of tax benefits previously enjoyed.
Furthermore, the reduction to 70% of the deduction rate for expenses incurred from 1 January 2024 is eliminated, thus maintaining the level of incentive for interventions on condominiums and individual real estate units unchanged, highlighting a clear commitment towards the continuity of incentives in the construction sector.
Support for economically weak citizens and reduction of exemptions
The decree also stands out for the introduction of a direct contribution, provided for in article 1, paragraph 2, aimed at taxpayers with a reference income not exceeding 15 thousand euros. This contribution, paid by the Revenue Agency according to criteria and methods defined by the Ministry of Economy and Finance, aims to limit the extent of the reduction in the tax benefit for expenses incurred from 1 January to 31 October 2024.
The objective is to ensure that even taxpayers in conditions of greater economic fragility can access the advantages provided for by the decree, in particular for interventions that have achieved a progress of works of not less than 60% as of 31 December 2023.
At the same time, article 2 of the decree intervenes on exceptions to the ban credit assignment and to discount on invoicewith particular attention to the demolition and reconstruction of buildings.
The ban on indirect use of the benefit through the transfer of credit or discount on the invoice is also extended to these interventions (demolition and reconstruction of buildings in seismic zones 1-2-3), unless the relevant qualifications have been requested qualifications before 30 December 2023.
Change on the deduction for the elimination of Architectural Barriers
With article 3 of the decree, there is a significant review of the regulations relating to the tax deduction for the elimination of architectural barriers. This review has the aim of making the regulatory intervention more effective and targeted, limiting the scope of application of the relief to specific interventions such as the installation of lifts, stairlifts, ramps and lifting platforms.
The importance of documenting expenses through the talking bank transfer mechanism is also reiterated, ensuring that i payments are traceable and compliant to the requirements established by the legislation.
This article also introduces an exclusion criterion for interventions not directly linked to the physical elimination of architectural barriers, such as those relating to plant automation, which will no longer benefit from the tax relief. In addition, the context of application of the transfer of credit and invoice discount is modified, limiting these possibilities to interventions on single-family buildings or residential units in multi-family buildings, provided that the taxpayer has a reference income of no more than 15 thousand euros. .
This section of the decree is configured as a fundamental tool for promoting accessibility and inclusiveness in living spaces, while ensuring that resources are efficiently directed towards interventions that generate the greatest social impact.
Conclusions
The decree “Tax benefits in construction” marks a turning point in the panorama of housing policies and support for the construction sector in Italy.
Through the revision of the regulations relating to the 110% Superbonus, the introduction of support measures for economically weaker citizens, the rationalization of the exceptions to the prohibition on the transfer of credit, and the review of the benefits for the elimination of architectural barriers, the decree aims to make access to tax benefits in the construction sector fairer and more accessible.
Source: Official presentation for the decree “Tax breaks in construction”