Renovation Bonus: an error in the transfer does not always compromise it

The Revenue Agency recently responded to a question published on FiscoOggi, the body’s official portal, which concerns the correct indication of the reason for bank transfers intended for payments for building renovation works.

The question posed by the reader concerns a frequent error, namely the indication of the incorrect reason, and the related effects on the possibility of taking advantage of tax deductions.

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The taxpayer’s question

The question presented to the Revenue Agency is the following:

“In the bank transfer made for the payment of building renovation works, I incorrectly indicated the reason for the interventions aimed at energy saving (law no. 296/2006). I have lost the right to request the deduction provided for by the art. 16-bis of the TUIR?”

This is a legitimate concern, as Italian legislation provides that in order to obtain tax deductions it is necessary to correctly indicate the regulatory reference when paying for construction work. This constraint, however, can generate confusion among taxpayers, leading to formal errors which, in some cases, could jeopardize the possibility of obtaining the desired tax relief.

But is it really like that?

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The response of the Revenue Agency

The Agency clarified that, in the specific case presented by the taxpayer, you do not lose the right to deduct provided for by article 16-bis of the TUIR for building renovation works, even if the reason relating to energy saving interventions was erroneously indicated in the bank transfer.

The reason for this confirmation lies in the fact that, as already reiterated in various official documents by the Revenue Agency, a material error in the reason for the transfer does not compromise the benefit, provided that all the other conditions established by the legislation for the use have been respected. of the deduction.

In other words, if all the other requirements are met, the error in the regulatory reference does not lead to the loss of the tax benefit.

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The requirements to maintain the deduction

In order to benefit from the tax deduction even in the presence of a formal error in the transfer, it is essential that:

1. The intervention is attributable to those provided for by article 16-bis of the TUIRwhich regulates the benefits for the recovery of building heritage.
2. The other formal requirements are respected required by law, such as the correct invoicing of the works, the presence of the beneficiary and client data, and the traceability of the payment.
3. The bank or Poste Italiane SpA has applied the withholding tax provided for by article 25 of legislative decree no. 78/2010, which from 1 March 2024 is equal to 11%.

Therefore, the formal error in the transfer does not affect the credit institution’s obligation to withhold the withholding tax, which is one of the main requirements for the recognition of deductions.