“Theater and Shows” and “Textiles and Fashion” bonuses: here's how to benefit from them - Nopo

“Theater and Shows” and “Textiles and Fashion” bonuses: here’s how to benefit from them

Instructions are ready to take advantage of the bonuses introduced by the Sostegni and the Relaunch Dl in favor of sectors particularly affected by the pandemic such as theatrical activities and live performances and that of textiles, fashion and accessories. In fact, with two measures, the Agency defines the methods, contents and terms of presentation of the communications to be sent in order to take advantage of the concessions. It starts with the “Theater and Shows” bonus: applications can be sent electronically from 14 October to 15 November 2021.

Theater and Shows Bonus- The bonus, introduced by the Sostegni Decree, is recognized in favor of companies that carry out theatrical activities and live performances, also through the use of digital systems and can only be used in compensation. Persons operating in this sector and who have suffered, in the year 2020, a reduction in turnover of at least 20% compared to 2019, are granted a tax credit equal to 90% of the expenses incurred in 2020, which is due even if the activities indicated above took place through the use of digital systems for the transmission of live works, such as theatrical performances, concerts, ballets. With the provision, the Inland Revenues define the criteria and methods of application and use of the tax credit and approve the communication model, with the relative instructions. The communication of the eligible expenses can be sent exclusively electronically, directly by the taxpayer or through a person in charge of transmitting the declarations, from 14 October 2021 to 15 November 2021.

After having received the communications of the eligible expenses with the indication of the theoretical credit, the Agency determines the percentage of the credit actually usable, in relation to the available resources. The percentage will be announced with a subsequent provision of the Director of the Agency to be issued by 25 November 2021. After having received the communications of the admissible expenses with the indication of the theoretical credit, the Agency determines the percentage share of the credit actually usable, in relation to the available resources. The percentage will be announced with a subsequent provision of the Director of the Agency to be issued by 25 November 2021. After having received the communications of the admissible expenses with the indication of the theoretical credit, the Agency determines the percentage share of the credit actually usable, in relation to the available resources. The percentage will be announced with a subsequent provision of the Director of the Agency to be issued by 25 November 2021.

Bonus Textiles, Fashion and Accessories- The subsidy, introduced by the Relaunch Decree, is aimed at supporting companies active in the textile and fashion, footwear and leather goods industries. Basically, it is a tax credit recognized to the extent of 30% of the value of the final inventories, exceeding the average of the same value recorded in the 3 years preceding that of the benefit.

To access the tax credit, which can only be used for offsetting, it is necessary to notify the Revenue Agency of this “increase in the value of final inventories” in order to identify the portion of the credit that can actually be used. With the provision, the Revenue Agency approves the communication model to be presented with the relative instructions. The communication is sent exclusively electronically, directly by the taxpayer or through a person in charge of transmitting the returns. With a subsequent provision, to be issued once the authorization of the measure by the European Commission has taken place, the terms for sending the communication will be defined. After having received the communications of the increase in the value of the final inventories in the warehouse with the indication of the theoretical credit, the Agency determines the percentage share of the credits that can actually be used, in relation to the available resources. The percentage will be announced with a subsequent provision by the Director of the Revenue Agency, to be issued within 10 days of the deadline for submitting the communication directly by the taxpayer or through a person in charge of transmitting the returns.

With a subsequent provision, to be issued once the authorization of the measure by the European Commission has taken place, the terms for sending the communication will be defined. After having received the communications of the increase in the value of the final inventories with the indication of the theoretical credit, the Agency determines the percentage share of the credits that can actually be used, in relation to the available resources. The percentage will be announced with a subsequent provision by the Director of the Revenue Agency, to be issued within 10 days of the deadline for submitting the communication. directly by the taxpayer or through a person in charge of transmitting the returns. With a subsequent provision, to be issued once the authorization of the measure by the European Commission has taken place, the terms for sending the communication will be defined. After having received the communications of the increase in the value of the final inventories in the warehouse with the indication of the theoretical credit, the Agency determines the percentage share of the credits that can actually be used, in relation to the available resources.

The percentage will be announced with a subsequent provision by the Director of the Revenue Agency, to be issued within 10 days of the deadline for submitting the communication. With a subsequent provision, to be issued once the authorization of the measure by the European Commission has taken place, the terms for sending the communication will be defined. After having received the communications of the increase in the value of the final inventories in the warehouse with the indication of the theoretical credit, the Agency determines the percentage share of the credits that can actually be used, in relation to the available resources. The percentage will be announced with a subsequent provision by the Director of the Revenue Agency, to be issued within 10 days of the deadline for submitting the communication. With a subsequent provision, to be issued once the authorization of the measure by the European Commission has taken place, the terms for sending the communication will be defined. After having received the communications of the increase in the value of the final inventories in the warehouse with the indication of the theoretical credit, the Agency determines the percentage share of the credits that can actually be used, in relation to the available resources.

The percentage will be announced with a subsequent provision by the Director of the Revenue Agency, to be issued within 10 days of the deadline for submitting the communication. After having received the communications of the increase in the value of the final inventories in the warehouse with the indication of the theoretical credit, the Agency determines the percentage share of the credits that can actually be used, in relation to the available resources. The percentage will be announced with a subsequent provision by the Director of the Revenue Agency, to be issued within 10 days of the deadline for submitting the communication. After having received the communications of the increase in the value of the final inventories in the warehouse with the indication of the theoretical credit, the Agency determines the percentage share of the credits that can actually be used, in relation to the available resources. The percentage will be announced with a subsequent provision by the Director of the Revenue Agency, to be issued within 10 days of the deadline for submitting the communication.