Prepared by Vitalba Passarelli, Giovanni Marra and Vanessa Zichichi
The deadline to access to the so called “Bonus Pubblicità”, September 30th, is approaching. Since the discipline has been subject to repeated regulatory changes, the most recent was the so-called “August Decree”, below you can find a brief summary of its main features.
Following the various changes that took place, the national budget to be divided among the applicants has raised from 60 to 85 million euros, divided into 50 million for investments made in daily newspapers and periodicals, including online ones, and 35 million for investments made on local and national televisions and radio broadcasters, analogue or digital, provided that they are not owned by the State. In this regard, please note that in the event of requests exceeding the national budget, a proportional distribution will take place as in previous years based on the investments actually incurred reported by the requesting subjects.
Based on the new legislation, it is now provided that:
- limited to the year 2020, the tax credit is recognized in the measure of 50% of the value of the investments made, subject to the limit set by the “de minimis” regulation. Therefore, the requirement of a minimum increase of 1% compared to the investments made the previous year is no longer applicable;
- the request for access to the tax credit must be filed in the period 1-30 September 2020, therefore companies must hurry to prepare the necessary request. It is also provided that the communications filed in the period 1-31 March 2020 according to the previous regulations remain valid;
- subjects making investments in national television broadcasters not owned by the State, as such investments were not included in the original communication, can now annul the past request and refile a new one including such investments in the eligible amount. In this case, however, the taxpayer must proceed with two filings, the first one for the total renunciation of the credit requested in March and the second one for a new reservation. The right to waive the tax credit, indeed, is provided for also in the substitutive declaration to be filed in January 2021. This possibility previously was not allowed;
- an important aspect that applicants must manage is connected with the so-called anti-mafia regulations, i.e. the communication, in the case of requests for a tax credit exceeding 150 thousand euros, of the data of natural persons with “relevant roles” in the company and of their adults cohabiting family members.
Let’s Talk
For a deeper discussion, please contact:
PwC TLS Avvocati e Commercialisti
Director
PwC TLS Avvocati e Commercialisti
Senior Manager