The latest conversion of the Milleproroghe decree marks a significant moment for Italian citizens and businesses, introducing significant measures in the national tax landscape.
Published in the Official Journal on 28 February 2024, law no. 18/2024 brings with it a range of new features ranging from the reopening of the terms for scrapping-quater to first home benefits for under 36s, up to the introduction of a special amendment for 2022 declarations.
In this article, we will explore the main provisions introduced, analyzing their impacts and opportunities for taxpayers and businesses, in an economic context increasingly oriented towards flexibility and support in the tax field.
Reopening of the deadlines for Scrapping-Quater
One of the most important innovations introduced by law no. 18/2024 concerns the reopening of the deadlines for joining the scrapping-quateroffering a new chance to those who have not paid the first three installments by the predefined deadlines of 2023.
Until March 15, 2024, taxpayers in arrears will be able to regularize their situation without losing the benefits of the concession. This provision also applies to individuals resident in areas affected by floods of May 2023, extending the deadline for payment of overdue installments.
The law establishes a five day tolerance for payments, thus allowing debtors to avoid forfeiture of the benefits provided for by scrapping if they pay the amount due by 20 March 2024.
Extension of First Home benefits for Under 36s
The conversion law of the Milleproroghe decree introduces an important innovation for young people under 36 who aspire to purchase their first home. With an amendment to the previous decree, the deadline for taking advantage of “extra” tax breaks is extended, provided that the preliminary agreement has been signed and registered by 31 December 2023.
The young beneficiaries now have time until 31 December 2024 to stipulate the definitive deed, with the opportunity to benefit from a tax credit in the case of a deed already concluded between 1 January and 29 February 2024.
This extension represents significant support for access to real estate by new generations, facilitating entry into the real estate market with more advantageous conditions.
Special forgiveness for violations on declarations 2022
Law no. 18/2024 paves the way for a special repentance for irregularities relating to tax returns submitted for the 2022 tax period. By extending a possibility already provided for returns until the 2021 tax year, this provision offers taxpayers the opportunity to regularize their tax position with favorable conditions.
Payment of the sums due must be made by March 31, 2024with the possibility of paying the amount in four quarterly instalments, to which interest is applied at 2% per year on the installments following the first.
This measure aims to encourage tax compliance, facilitating the resolution of any discrepancies in tax returns and contributing to the simplification of the relationship between tax authorities and taxpayers.
Concessions for direct farmers and agricultural entrepreneurs
The conversion law of the Milleproroghe decree extends and modifies the tax breaks provided for direct farmers and professional agricultural entrepreneurs, consolidating support for a key sector of the Italian economy.
For the two-year period 2024-2025, dominion and agricultural incomes, up to 10 thousand euros, remain exempt from Irpef, while those between 10 thousand and 15 thousand euros contribute to 50% of the total income, and the total over 15 thousand euros.
This measure, which excludes partnerships, LLCs and cooperatives that follow other regulations, aims to encourage agricultural activity, supporting entrepreneurship in the sector and facilitating the fiscal management of income deriving from agricultural activities.
Increase in the Psychologist Bonus
In the context of the measures introduced by law no. 18/2024, we note the increase in resources allocated to psychologist bonus for the year 2024. With an increase of 2 million eurosthe maximum spending limit for the contribution to support the costs of psychotherapy sessions with private specialists is raised, thus broadening the scope of this initiative.
The psychologist bonus confirms itself as an important tool for promoting the psychological well-being of citizens, facilitating access to psychotherapy services and supporting mental health in a period of growing social and personal challenges.