Non-repayable contribution for Businesses (D.L. Ristori 1,bis,ter,quater)

The Italian Government has issued new measures to support businesses who have been particularly affected by the new restrictions due to the pandemic upsurge.
The government has then introduced a non-repayable contribution for subjects that:

– have a VAT number and carry out one of the activities listed in the attachments (Annex 1 and Annex 2 for the “red areas”, Annex 3);
– suffered a reduction in revenues, the amount of which has decreased by at least 2/3 April 2020 compared to those of April 2019. This requirement does not apply to those who have registered for VAT purposes starting from 1 January 2019.

According to “Rilancio” Decree (DL 34/2020), the calculation of the contribution should be done applying the percentage of:

– 20% – For taxpayers who have recorded revenues in 2019 of less than 400,000 Euro;
– 15% – For taxpayers who have recorded revenues in 2019 between 400,000 Euro and 1 million Euro;
– 10% – For taxpayers who have recorded revenues in 2019 exceeding 1 million Euro;

against the difference in revenues between April 2019 and April 2020 and to this amount an additional percentage attributed to the various ATECO codes, as per Annex 1, Annex 2 and Annex 3.
The contribution will be paid by means of a direct wire transfer to those who already received the non-repayable contribution provided for by Article 25 of the “Rilancio” Decree, whereas those who did not receive the previous contribution will have to submit a specific application to the Tax Authority.

Fabio Salvagno
Matteo Rosin