Italy Update: Super Ace tax credit offsets start

Super ACE 2021, after the opening of the communications, which can be sent starting from last November 20th, the tax code is also ready for the use in compensation of the tax credit with F24 model. This is established by Resolution 70/E/2021 of last December 10 of the Revenue Agency. The tax code 6955 must be used to recover the sums defined by the Sostegni bis Decree. The subject will be able to benefit from the tax credit in compensation after the approval of the Financial Administration. The conversion of the Ace into a tax credit is obtained by multiplying the notional return, equal to the increases in equity capital made in 2021 within a maximum of 5 million euros and valued at 15%, by the IRES or IRPEF rate in force in the current tax period at 31.12.2020.

By Quorum, Italy, a Transatlantic Law International Affiliated Firm. 

For further information or for any assistance please contact italy@transatlanticlaw.com

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