Budget Law 2022: the incentives for the future years

In the last hours of 2021, Law no. 234, i.e. the 2022 Budget Law, in force since 1 January 2022.

The scenarios, the perfectibility and the potentialities envisaged therein can now be seen. Certainly worthy of note is the broad scope of many of the incentive regulations referred to, with benefits generally having multi-annual connotations. The 2022 maneuver definitively marks the abandonment of the era of precarious annual renewals of incentive disciplines, which do not allow structured planning of investments and activities.

On the other hand, some confirmations were largely absent , which could however occur during the current year; think, for example , of the 4.0 Training Bonus , the Tax Credit for investments in ordinary capital goods, the Tax Credit for investments in capital goods in the South , the R&D tax credit increased for the South . These measures are all in force until 2022, by virtue of the 2021 Budget Law.

The current historical period, from a facilitative point of view, has no equal: in particular, among the local, national, PNRR and ordinary European resources, incentives can be found for almost all projects.

In the opinion of the writer it is essential, however, an efficient management of the measures by the managing bodies, so that the benefits are effectively effective. On the part of companies, however, it is possible to multiply the incentive effect with the optimization that derives from the possibility of accumulating incentives , recently confirmed by the State General Accounting Office (circular 33/2021) with reference to the PNRR, provided that cost incurred.

The range of opportunities provided for in the 1013 paragraphs that make up the first article of the 2022 maneuver is mammoth . It is important to underline how the changes to the Patent box regulations, the extension of the tax credit for investments in 4.0 assets and for investments in R&D Innovation and Design according to the provisions of the recent budget are the subject of specific discussion in dedicated articles, to which reference is made. . Below is an overview of some of the additional main incentive innovations for companies contained in the 2022 Budget Law.

EXTENSION OF THE TAX CREDIT FOR CONSULTANCY COSTS RELATING TO THE LISTING OF SMES . 

The 2022 maneuver provided for the extension to 31 December 2022 of the tax credit of 50% for consultancy costs relating to the listing of small and medium-sized enterprises , established by the 2018 Budget Law. The maximum amount of the benefit is reduced by 500,000 to 200,000 euros.

REFINANCING OF THE "NUOVA SABATINI" MEASURE. 

In order to ensure continuity of the measures to support the productive investments of micro, small and medium-sized enterprises , the "Nuova Sabatini" is refinanced, for a total of 900 million until 2027, which is one of the main national subsidy instruments that incentivize the acquisition of assets instrumental. The restoration of the ordinary functioning mechanism of the measure before Covid is envisaged : the disbursement in a single solution, within the limits of the available resources, is allowed only for applications with financing for an amount not exceeding 200,000 euros.

STRENGTHENING THE INTERNATIONALIZATION OF BUSINESSES. 

To support the internationalization of businesses through SIMEST , 8.25 billion is allocated until 2026 . For the granting of subsidized loans , an increase in the endowment of the Revolving Fund in favor of Italian companies operating on foreign markets is envisaged, for 1.5 billion for each of the years from 2022 to 2026; for the granting of non-repayable grants, the Integrated Promotion Fund will be increased by 150 million euros per year for each of the years from 2022 to 2026.

SME GUARANTEE FUND AND ADDITIONAL GUARANTEES . 

The operation of the extraordinary intervention guaranteeing the SME Guarantee Fund is extended to 30 June 2022 , to support the liquidity of companies affected by the epidemiological emergency from COVID. In a logic of a gradual phasing out , the extraordinary discipline is also gradually weakened. The endowment of the Fund is also increased by 3 billion until 2027 .

The regulations on the extraordinary intervention guaranteed by SACE to support the liquidity of the companies affected by the containment measures of the COVID-19 epidemic (so-called " Guarantee Italy ") are also extended to 30 June 2022 , as well as the operation of the guarantee extraordinary SACE in favor of mid cap . The resources available for the Green Guarantee on the Fund for the Green New Deal destined to cover the guarantees on loans for economically sustainable projects in the amount of 565 million euros are recalculated, for a maximum commitment that can be assumed by SACE SpA equal to 3,000 million euros EUR.

EXTENSION AND REMODULATION OF THE AGGREGATION BONUS . 

The incentive for business combinations introduced by the 2021 budget law for subjects resulting from a business combination operation, carried out through mergers, spin-offs or company transfers, is reformulated and extended to 30 June 2022 .

TAX CREDIT FOR INVESTMENTS IN INSTRUMENTAL GOODS MIDDAY . 

The Maneuver intervenes on the regulations of the SUD Bonus applicable until 31 December 2022 , in order to adapt the identification of the territories to which the subsidy measure is addressed to the provisions of the new 2022-2027 Regional Aid Charter . The redetermination of the scope of application of the measure allows the Molise region to apply a higher credit intensity to investments than in the previous situation.

More specifically, it will be necessary to refer to the 2014-2020 Regional Aid Charter as regards the incentive intensities (up to 45% for the less developed Regions and up to 30% for the Regions in transition ) and the Regional Aid Charter 2022-2027 as to the eligible areas , i.e. the assisted areas of the Campania, Puglia, Basilicata, Calabria, Sicily, Sardinia and Molise regions , eligible for the derogations provided for by Article 107, paragraph 3, letter a) , of the Treaty on the functioning of European Union, and the assisted areas of the Abruzzo region, admissible to the exceptions provided for by Article 107 (3) (c) of the Treaty on the Functioning of the European Union. Abruzzo therefore remains the only region in transition that is only partially admissible.

SPORT BONUS . 

It is again envisaged, for 2022 (after the absence for 2021), the possibility of using the tax credit for donations for maintenance and restoration of public sports facilities and for the construction of new public sports facilities

TRAINING . 

The Maneuver allows the signing, as part of the Employability Guarantee Program (GOL), of territorial pacts for the ecological and digital transition , aimed at carrying out training projects and job placement in the sectors of ecological and digital transition for training of workers in the same sectors.

Furthermore, the establishment, at the Ministry of Labor and Social Policies, of the Fund for training activities preparatory to obtaining the certification of gender equality , with an endowment of 3 million euros for the year , is also envisaged. 2022.

INCENTIVES FOR PUBLISHING. 

In addition to the tax credit for libraries (with a budget of 20 million ) and the tax credit for the purchase of newspapers (with an endowment of 120 million ), an extraordinary fund is foreseen for interventions to support publishing . In particular, with resources equal to 230 million , the Fund is intended to encourage investments by publishing companies, including newly established ones, oriented towards technological innovation and the digital transition , for the entry of young qualified professionals in the field of new media. The Fund is also intended to support corporate restructuringand social safety nets, as well as the demand for information.

TOURISM . 

The single national tourism fund was established, with a budget of 530 million between current and capital accounts, to support operators in the sector and to promote tourism.

In addition, with a budget of 150 million euros for the year 2022, a fund to be allocated to support economic operators in the tourism, entertainment and automobile sectors, severely affected by the epidemiological emergency Covid-19.

FUND TO SUPPORT INDUSTRIAL TRANSITION . 

The Fund to support industrial transition is introduced with an endowment of 150 million euros starting from 2022 , in order to favor the adaptation of the national production system to European policies, in the field of combating climate change . Facilitations can be granted to companies , with particular regard to those operating in energy-intensive sectors, for the realization of investments for energy efficiency , for the reuse for productive uses of raw materials and materials. recycle .

ITALIAN FUND FOR CLIMATE . 

With an endowment of 4.2 billion until 2026 and 40 million annually from 2027 , an Italian climate fund is established with which to finance interventions , including non-repayable ones, in favor of private and public entities to contribute to the achievement of the objectives established in the international agreements on climate and environmental protection to which Italy has joined.

NATIONAL FUND FOR ENERGY EFFICIENCY . 

The regulations of the National Energy Efficiency Fund are amended, providing for a reserve of resources in favor of the disbursement of non -repayable contributions , up to an overall limit of 8 million euros per year starting from the year 2022.

AGRICULTURAL ENTREPRENEURSHIP . 

Over 75 million are dedicated to agricultural entrepreneurship in general and women, in particular, through ISMEA measures to enhance the competitiveness of companies operating in the agricultural and agri-food sector.


AMENDMENTS TO THE RULES GOVERNING THE REVALUATION OF ASSETS AND THE REALIGNMENT OF TAX VALUES . 

For the revaluation / realignment of intangible assets referred to in Article 110 of the August Decree (Legislative Decree 104/2020) with an amortization period of 18 years, due to revenue requirements, the 2022 Budget Law provides that the deduction of the higher value attributed at the time of revaluation is diluted over 50 years , except for the payment of a substitute tax (from 12% to 16%) in order to be able to deduct no more than one eighteenth of the cost or value, pursuant to 103 TUIR. Notwithstanding the provisions of the Statute of the Tax payer which regulate the effectiveness of tax laws over time, the rules introduced take effect from the financial year following the one in which the revaluation and realignment are carried out . Against the unexpected extension of the tax discount, companies are granted the possibility of revoking, even partially, the 3% revaluation, with the return of the installment of the replacement already paid.

MEASURES IN SUPPORT OF THE TEXTILE INDUSTRY. 

A contribution of 10 million euros is recognized for the year 2022 , for economic support to companies in the textile sector in the Prato industrial district .

CRAFTS . 

With an endowment of 15 million , funds are set up for the artisan production, ceramics and glass of Murano .

TEMPORARY SUSPENSION OF THE AMORTIZATION OF THE COST OF TANGIBLE AND INTANGIBLE FIXED ASSETS. 

The Maneuver extends - under specific conditions - the right not to apply a percentage of the annual depreciation of the cost of fixed assets also to the financial year subsequent to the one in progress on 15 August 2020, in favor of subjects who in the aforementioned financial year have already made use of this option and have not made 100 percent of the amortization per year.

VENTURE CAPITAL FUND . 

The rules of the venture capital fund have been modified, extending the fund's area of ​​intervention. In particular, other possible beneficiaries are added in addition to innovative start-ups , with specific reference to innovative SMEs , as well as to the units or shares of one or more venture capital funds or of funds investing in venture capital funds , at the aim of favoring the internationalization process of the Italian companies subject to investment and also without the co-investment of Simest SpA or Finest SpA

FUND FOR SUSTAINABLE GROWTH . 

The discipline relating to the granting of loans in favor of small enterprises in the form of cooperative companies made up of workers from companies whose owners intend to transfer the same, for sale or for rent, to the workers themselves is streamlined.

SUPPORT OF FOOD AND WINE . 

The establishment, at the MIPAAF, of the Fund for the support of food and wine is foreseen, with an endowment of 76 million euros .

PROGRAM OF INTERVENTIONS FOR THE TERRITORIES OF THE SOUTH . 

With an endowment of 30 million, the introduction of a new advanced model of innovation , based on technology transfer , is planned in the South,according to an approach aimed at enhancing scientific knowledge, in particular for the benefit of spin-offs and innovative start-ups .

DEVELOPMENT CONTRACTS 

The refinancing of development contracts with 450 million should be noted .

The Maneuver is extremely composite, articulated and perhaps fragmented. The favorable provisions are still very numerous, from building bonuses to incentives for composting plants , to the Fund for technological and digital innovation and the sustainability of the naval industry of national strategic importance. We hope that the forecasts contained therein will reverberate concrete and above all timely effects.