The “suspension” of depreciation
In the context of the epidemiological emergency from Covid 19, the Goverment provided throught he Legislative Decree 104/2020for the companies that prepare financial statements without the adoption of international accounting standards, the suspension of the imputation, in whole or in part, of the depreciation in the financial statements for the current financial year.
The aspects of the exemption to be taken into consideration are civil and fiscal.
Paragraph 7-bis of Article 60 of the Legislative Decree provide the aspects of civil nature.
The following paragraph 7-quinquies takes into consideration the consequences deriving from the application of the derogation, however providing for the deduction of unallocated depreciation rates for tax purposes.
The two aspects, civil and fiscal of the derogating rule, give rise to different opinions deriving from the possibility of fiscally deducting depreciation not charged to the financial statements as optional and not mandatory.
Legislative doctrine tends for the optional tax deduction, referring to the interpretive document n.9 issued by OIC.
In the event that deferred depreciation is deducted from taxable income through a specific change in base, the company must recognize deferred taxes.
On the other hand, if the company doesn’t use the option guaranteed by paragraph 7-quinquies of Article 60 and therefore does not deduct “suspended” depreciation, it must not charge the deferred taxes in the financial statements.
Finally, the Goverment guaranteed also for IRPEF subjects in ordinary accounting the suspended deprecation . In fact, paragraph 7-quinquies refers to the Article 5-bis of Legislative Decree 446/97, which refers to the determination of the net production value of partnerships and sole proprietorships.