Bonus Home 2023: how the invoice discount works
- Bonus Home 2023: not only tax return
- Invoice discount and assignment of credit
- Building interventions and tax deductions
- Bonus Home 2023: how does the invoice discount work?
- Invoice discount or assignment of credit?
- How to obtain the invoice discount?
- Third step: communication to the Revenue Agency
- What construction work qualifies for the invoice discount?
Bonus Home 2023: not only tax return
Bonus Home 2023: with the Budget Law 2022, the possibility of taking advantage of the discount on the invoice and the transfer of the tax credit has been extended beyond direct tax returns. These innovations came into force on 1 January 2022 and in addition to being directed to building expenses incurred in 2022, 2023, 2024 and, for the 110% superbonus only, in 2025, they also provide for bonuses concerning car garages, architectural barriers and the elimination of the compliance visa for small works.
Invoice discount and assignment of credit
As mentioned, with the Relaunch Decree, in addition to the Ecobonus and the 110% Superbonus, an invoice discount and the assignment of credit to credit institutions and other financial intermediaries was introduced. furnish will be valid for 2022, 2023, 2024 and as seen for the 110% Superbonus until 2025.
Obviously in this way the government is demonstrating that it wants to focus on construction to tackle the crisis due to the pandemic and finally turn the page towards a real green turn in line with European policy.
Building interventions and tax deductions
Currently, those who carry out building, energy and plant engineering work in their homes can benefit from a discount. In particular, it is possible to:
- deduct a portion from future taxes,
- assign credit to banks and credit institutions in exchange for money,
- cede credit to a particular company in exchange for a discount on an invoice.
Bonus Home 2023: how the invoice discount works – brian babb – unsplash
Bonus Home 2023: how does the invoice discount work?
Instead of opting for the Irpef tax deduction, to be spread over 10 or 5 years, the invoice discount is a way of reimbursing expenses by receiving a discount applied to the supplier’s invoice. In particular, the company carrying out the intervention is responsible for advancing to the client, in one go, the entire tax-deductible sum needed to cover the expenses of the building intervention. Furthermore, it should be specified that the invoice discount should not be confused with the assignment of credit. In fact, these two methods have different characteristics and different recipients.
Bonus Home 2023: how the invoice discount works – dorian hurst – unsplash
Invoice discount or assignment of credit?
Invoice discount and credit assignment, as seen, are two alternatives to the Irpef deduction. But what is the main difference between the two?
With the invoice discount, the company carrying out the work, as seen, advances the deductible expenditure. Therefore, in the case of Superbonus, nothing needs to be paid. Whereas, in the other cases of Ecobonus, only a portion of the expenditure needs to be settled. Subsequently, the company may or may not assign the credit to banks or other intermediaries.
On the other hand, in the case of the assignment of credit, it is essential to assign the credit directly to third parties, such as banks, post offices, insurance companies, or other entities), thus without direct contact with the companies and suppliers.
Bonus Home 2023: how the invoice discount works – giorgio trovato – unsplash
How to obtain the invoice discount?
The procedure for the invoice discount is much more streamlined than that required for the assignment of credit. In fact, the only thing needed is to find a company willing to accept the proposal. Obviously, this is not an easy practice. However, once found, it will be necessary, as mentioned, to pay nothing and receive a zero invoice in the case of Superbonus, or to pay half the invoice in the case of the renovation bonus.
Third step: communication to the Revenue Agency
In order to start work, it is necessary, both in the case of credit transfer and invoice discount, to send a special communication to the Revenue Agency, by 16 March of the year following that in which the expenses were incurred, containing the declaration of credit transfer to the bank or company. In fact, in the absence of this communication, the transfer is ineffective.
Bonus Home 2023: how the invoice discount works – akin cakiner -unsplash
What construction work qualifies for the invoice discount?
Building works for which the invoice discount is valid are:
- Building renovations including all ordinary maintenance, extraordinary maintenance, restoration and conservative renovation works, carried out on the common parts of condominium buildings.
- The works of extraordinary maintenance, restoration and conservative renovation, on individual building units.
Energy efficiency works such as the installation of solar photovoltaic systems and also the installation of electric vehicle charging stations. - Earthquake-resistant works.
- Those for the renovation or restoration of the façade of existing buildings, including those just for exterior cleaning or painting.
In addition, the new EUR 55 billion measure has extended the categories that can benefit from the invoice discount. Thus, in addition to condominiums and individual housing units, anyone who is planning to carry out building renovations in second homes can now also benefit from the invoice discount.
