For 2022, software 4.0 bonus at 50% for investments up to 1 million

The Transition Plan 4.0 is constantly evolving and subject to systematic restyling for the benefit of companies, especially as regards the tax credit for investments in capital goods.

After the extension to the three-year period 2023-2025 (with possible investment queues until 30 June 2026) introduced with the 2022 Budget Law, significant regulatory interventions and clarifications have followed, even in recent weeks.

It should be remembered, first of all, that in the context of the parliamentary process of conversion into law of the decree-law of December 30, 2021, n. 228 (the so -called Milleproroghe Decree ), an amendment has extended the privileged regime of 2021 , also to investments in ordinary assets (both tangible and intangible) and in 4.0 tangible assets booked in 2021 (with order and deposit of at least 20% by 2021 ) and concluded by 31 December 2022 , instead of by 30 June 2022.

On the other hand, no provision had been dedicated to intangible assets 4.0, since - unlike the other cases - for software 4.0 the 2021 Budget Law did not provide for a weakening of the incentive rate between 2021 and 2022, allowing the maintenance of the same subsidy intensity (20%) envisaged by the 2021 regime.

To redetermine the fate of intangible assets 4.0 acquired or "reserved" in 2022 , pursuant to art. 109 TUIR, the recent Aid Decree intervened (Law Decree no. 50 of 17 May 2022 containing " Urgent measures in the field of national energy policies, business productivity and attraction of investments, as well as in the field of social policies and the Ukrainian crisis ").

Article 21 of the Aid Decree increases the amount of the tax credit for intangible capital goods 4.0 acquired starting from January 1, 2022 and until December 31, 2022 or by June 30, 2023 , provided that by the date of December 2022, the relative order is accepted by the seller and the payment of advances has been made in an amount equal to at least 20% of the acquisition cost. In particular, the Decree increases the percentage of the cost of goods recognized as a tax credit from 20 to 50% .

The subsidy measure is included in the M1C2 mission of the NRP called “digitization, innovation and competitiveness in the production system”; in particular, the Annex to the executive decision of the Council of 13 July 2021 provides, among others, in the description of the goals and objectives associated with the mission, the following time objectives : at least 27,300 tax subjects must have accrued tax credits for intangible capital goods 4.0 on the basis of the tax returns submitted between January 2021 and December 2022 (target to be reached by June 2024) and at least 41,500 tax subjectsmust accrue the same credit on the basis of the returns submitted between January 2021 and December 2023 . The increase in the tax credit therefore responds to the need to ensure an acceleration in the dynamics of investments in intangible capital goods as per attachment B annexed to law no. 232, also in consideration of the provisional data processed on the tax returns relating to the tax year 2020 which show a number of beneficiaries significantly lower than the target and equal to 3,572.

The updated incentive flow is shown below , comparing the news of the latest financial maneuvers as recently redesigned, which it is useful to consider when planning investments and optimizing benefits.

Significant changes also affect material goods 4.0.

With reference to the provisions of the Budget Law 2022, the circular of the Revenue Agency 14 / E of May 17, 2022 intervened. More precisely, to companies that make investments in the aforementioned material assets 4.0, starting from January 1, 2023 and up to 31 December 2025, or by June 30, 2026 (if by December 31, 2025 the relative order is accepted by the seller and the down payments of at least 20% of the acquisition cost have been made), "the tax credit is recognized in the amount of 20 percent of the cost, for the portion of investments up to 2.5 million euros, in the amount of 10 percent of the cost, for the portion of investments over 2.5 million of euros and up to 10 million euros, and to the extent of 5 percent of the cost, for the share of investments exceeding 10 million euros and up to the maximum limit of total eligible costs equal to 20 million euros". The wording of paragraph 1057-bis - which in a single provision governs investments in tangible capital goods included in Annex A annexed to the 2017 Budget Law made in the period from 1 January 2023 to 31 December 2025 (or 30 June 2026 ) - could lead us to believe that the maximum ceiling of overall admissible costs, set by the law at 20 million euros, is to be referred to this entire time frame.

However, the Revenue Agency notes that logical-systematic interpretation reasons suggest that it is a different editorial formula that should not preclude the calculation of the ceiling as referred to investments made on an annual basis . In this sense, it submits the technical report to the 2022 Budget Law. The Agency therefore believes that the ceiling envisaged for investments in tangible capital goods included in Annex A is to be understood as referring to the single annuity and not to the entire three-year period.

Revenue Agency did not intervene in relation to the bracket up to 50 million introduced by article 10 of the Sostegni Ter Decree (Law Decree no. 4 of January 27, 2022), with an endowment of 124.8 million ; it is hoped that the bracket can be assumed by analogy on an annual basis. In particular, the Government has provided for a new cap of subsidized investments dedicated to material assets 4.0 with green implications, carried out from 2023 to 2025 or by June 30, 2026 with an order and deposit of at least 20% by 2025. In particular, for the share of more than 10 million euros of investments included in the PNRR , aimed at achieving ecological transition objectives identified by decree of the Minister of Economic Development, in consultation with the Minister of Ecological Transition and the Minister of Economy and Finance, the tax credit is recognized in the amount of 5% of the cost up to the maximum limit of overall admissible costs equal to 50 million euros . The Sostegni ter decree provides for an overlap between the third “ordinary” bracket of the 2022 budget law (5% from 10 to 20 million) and a new cap which looks at the ecological transition (5% from 10 to 50 million). A timely official coordination intervention between the two plafonds is desirable, also to clarify which investments are included in the PNRR for which the facilitation is enhanced.

MATERIAL GOODS

The tax credit referred to in the 2021 and 2022 Budget Laws can be used as compensation starting from the year of entry into operation of the assets for ordinary investments (ie not 4.0), or starting from the year of interconnection of the assets. 4.0 to the company production management system or supply network. The use can take place in three annual installments of the same amount,reduced to a single solution for investments in ordinary assets (not 4.0) acquired starting from November 16, 2020 and until December 31, 2021 by subjects with a volume of revenues or fees of less than 5 million with reference to intangible assets and, pursuant to the Sostegni bis Decree, regardless of the volume of revenues or fees, with reference to material assets.

It should be remembered that for the purposes of determining the time of making the investments , reference must be made to the general rules of jurisdiction provided for by Article 109, paragraphs 1 and 2, of the Tuir.