The definitive text of the Italian Decreto Rilancio (Relaunch Decree) was finally released, containing the so-called Superbonus 110%, which has been much discussed.
The text of the law 17 July 2020, n. 77 was published in the Italian Official Gazette no. 180 of Saturday 18 July as “Conversione in legge, con modificazioni, del decreto-legge 19 maggio 2020, n. 34, recante misure urgenti in materia di salute, sostegno al lavoro e all’economia, nonché di politiche sociali connesse all’emergenza epidemiologica da COVID-19” (Conversion into law, with amendments, of the decree-law of 19 May 2020, n. 34, containing urgent measures in the field of health, support to work, and the economy, as well as social policies related to the epidemiological emergency from COVID-19).
This decree is the Italian government’s third measure after “Cura Italia” and the “Decreto Liquidità”, approved in the Chamber on 9 July, and now also promoted to the Senate.
This article will try to summarize and make the main novelties of the decree as comprehensible as possible, but we still recommend that you contact a qualified technician, given the complexity of the topics covered.
In particular, we will deal with Articles 119 and 121 of Legislative Decree 19 May 2020, n. 34 and the changes made in the Senate, respectively concerning the incentives for energy efficiency, the bonus earthquake, photovoltaics, and the options offered for the sale or discount to be deducted from the tax.
Art. 119 – Incentives for energy efficiency, bonus earthquake, photovoltaic
This article lists the types of buildings on which energy redevelopment works can be carried out and the interventions that fall into the different types of deduction. To obtain the 110% deduction, the sum of the interventions must involve an improvement in energy efficiency equal to at least 2 classes (e.g. from D to B).
Mainly affected buildings:
- existing buildings
- single existing real estate units (e.g. villas and/or apartments)
- common parts of condominiums
- second single-family homes
- terraced houses
- autonomous public housing institutes (IACP)
- undivided housing cooperatives
- non-profit organizations
- third sector bodies and sports associations
Main types of intervention, linked to the energy coefficients required and indicated by the relaunch DL – Annex B:
- energy redevelopment interventions on masonry, roofing (roofs) and floors, which delimit the heated volume (therefore, unheated garages, formworks, and outbuildings are excluded)
- replacement of existing winter air conditioning systems with centralized systems for heating and/or cooling and/or the supply of domestic hot water
Types of plant allowed, with efficiency at least equal to the class A envisaged by the delegated regulation:
- condensing boilers
- heat pump systems
- hybrid systems (also combined with the installation of photovoltaic systems)
- solar thermal panels
- geothermal plants
- microgeneration plants
- biomass plants (only for mountain municipalities not affected by European infringement procedures)
Remember, however, that all energy efficiency measures (eg heat pump, boiler, solar thermal) that do not allow the jump of two classes of the building still benefit from the “old” 65% or 50% Ecobonus.
Type of accessory interventions which, if carried out together with the previous ones, benefit from the Superbonus:
- replacement of fixtures and windows
- external solar screens (e.g. awnings)
Subjects who can request the deduction:
- natural persons owning the property or entitled to it (e.g. renters)
- Italian companies or activities that bear the costs of the intervention, either proprietary or entitled, but only on the property used as a main residence
All interventions carried out must be sworn by a qualified technician and communicated to ENEA (National Agency for New Technologies, Energy and Sustainable Economic Development). The expenses that can be deducted also include those incurred for the design and for the professional services requested.
Art. 121 – Option for assignment or discount instead of tax deductions
Italian taxpayers can recover 110% of the sworn expenses to be divided into five annual installments, by deducting it from taxes (IRPEF), or benefit from:
- Invoice discount: the client can assign his tax credit to the company carrying out the works, obtaining an invoice discount of up to 100%, always within the spending limits provided for by the legislation. The company in turn can decide to transfer the credit to third parties, such as banks and credit institutions, and obtain liquidity in a single solution.
- Credit transfer: the customer or the company can transfer their tax credit to third parties and obtain liquidity in a single solution.
In addition, there is the possibility of choosing for the sale and discount at each work progress (SAL) in relation to the single invoice issued.
The limits of Decreto Rilancio
The legislation is quite complex and, although it represents a good opportunity to renew, it is good to pay attention to some aspects.
- To enforce the above, it will be necessary to wait for a provision by the director of the Revenue Agency, within 30 days from the entry into force of the decree conversion law, which will define the specific implementation methods.
- Not all types of subjects and/or buildings will be eligible for deductions
- Maximum limits have been set for a total tax deduction and limits also based on the individual types of intervention
- If a similar intervention has been carried out for less than 10 years, it does not benefit from tax deductions (e.g. if I used a facility to improve energy efficiency 9 years ago, I have to wait at least another year to benefit from the Superbonus)
- Citizens with a medium-low income, small artisans and small businesses can only enter the mechanism with the support of banks and credit institutions, because everything that is not deducted within 5 years is “lost”.
The contribution of Assotermica to the drafting of the DL Relaunch
Assotermica, the association of which IMIT is a member, has actively contributed to the drafting of this decree. The Association sees the Superbonus as the recognition of the strategic role of the construction sector, given that even in the past it has been the forerunner of an economic recovery after moments of severe crisis. The sector in Italy is highly fragmented and made up of numerous companies of all sizes who, more than many others in Italy and Europe, have suffered an unprecedented crisis before and during the lockdown period.
Assotermica has repeatedly stressed these concepts and, once the basic scheme has been launched by the Council of Ministers, worked in Parliament to expand the range of potential beneficiaries (such as the extension of deductions to second homes) or to guarantee technological neutrality (such as the inclusion of condensing boilers in single-family buildings and terraced houses, as well as solar thermal).
Finally, he experienced the critical issues of the past to propose some simplifications to Art. 121 on the assignment of the credit or discount of the consideration, with particular reference to the possibility of opting for the assignment and discount at each stage of work progress, in relation to the single invoice issued.
Assotermica’s work on Superbonus is continuing also in this phase following the publication of the law, actively working also on the implementing decrees that will have to be adopted by the MiSE within a few weeks.
IMIT joins the Association in this effort to promote new climate comfort technologies that can guarantee all users energy and economic savings while respecting the environment more and more.
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