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Refurbishment, italian fiscal instruments

 In News

Di Elena Colombetti

Francesco Burrelli, Anaci President

Renovations and tax bonus

Italy is one of the countries in the world with the largest building heritage owned by private individuals. The State, traditionally, encourages renovations on buildings through the possibility of deducting part of the expenses for extraordinary work from taxes due by citizens, in different percentages depending on the type of work carried out.

In 2020, a new tool was added for interventions on the private buildings in Italy to encourage citizens to renovate buildings through the leverage of a full saving: the so called ‘Superbonus 110%’ introduced by the Italian Relaunch Decree, which raises to 110% the rate of deduction of expenses incurred from 1 July 2020 to 31 December 2021, to be recovered in 5 years.

In addition to this, two other instruments are also available: the discount in the invoice (which can be requested from those who carry out the work) and the credit transfer (which can be transferred to third parties, such as banks or insurance companies). These are new paths that private citizens can follow to recover part of the costs of extraordinary building maintenance work, alternatively to the tax deductions we have been accustomed to for years now.

These topics have aroused great interest. But, in practice, are they proving effective? We discuss them with Engineer Francesco Burrelli, national president of ANACI, the largest Italian association of condominium administrators.

PREVIEW: in issue no. 2/2021 of Elevatori Magazine we will publish the article “Architectural barriers, the Superbonus is on its way”, an in-depth analysis of the 110% recovery for overcoming architectural barriers.

Renovations, the interview to Francesco Burrelli

Mr Burrelli, from your privileged point of view on the world of condominiums, what do you think of the tools provided by the legislator to encourage renovation of the Italian buildings? Let’s talk about the Superbonus, for example.

The Superbonus 110% concerns not only energy requalification, but also static structural improvements… [Read more in the 1/2021th issue of Elevators Magazine]

What about systems, such as lifts?

If I want to modernize a lift, I have another great advantage because I can follow the path of invoice discount or credit transfer. In fact, it is now possible to use these tools for all works for which a tax credit is provided… [Read more in the 1/2021th issue of Elevators Magazine]

Do you already see the first effects of these measures?

Condominium administrators are already using these tools. Invoice discount and transfer are certainly facilitations that allow condominiums to carry out the necessary work for less than they would have spent in other periods. So the judgement on these tools is positive… [Read more in the 1/2021th issue of Elevators Magazine]

The full interview appeared in Elevators Magazine issue 1/2021.

Read the full article in Elevator Magazine issue 1/2021

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