One of the innovative acts (DL n.34 of 19/05/2020), approved by the Italian Parliament in 2020, is the “Superbonus 110%”. It is a 110% tax credit of the expenditure made in order to improve a home’s energy efficiency and lower its seismic risk. What are the main requirements? Most importantly, the expenses have been incurred between July 1, 2020 and December 31, 2021 and the renovation must show an improvement of at least two energy classes to obtain the tax bonus.
Who can apply for the Superbonus 110%?
According to the Communication n. 500 provided by the Agenzia delle Entrate (Italian tax agency), all persons, Italian or non-Italian, who own a house or building in Italy can become a beneficiary of this bonus.
The tax discount for the work allowed by the “Superbonus”, “Ecobonus” and/or other bonuses is valid for a maximum of two separate properties.
The “Superbonus 110%” is linked to work conducted to add heat insulation, air conditioning systems, efficient heating systems, and/or work to reduce the seismic risk. If one of these interventions is made, it is also possible to obtain the 110% bonus for additional work such as photovoltaic systems, replacement of doors and windows, charging stations for electric vehicles, etc.
Furthermore, there are some limits regarding the maximum expenses that are deductible:
Type of work |
Type of building |
Maximum limit |
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Thermal insulation |
Single property |
50,000 € |
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Thermal insulation |
Multiple properties (from 2 to 8 units) |
40,000 € per unit |
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Thermal insulation |
Multiple properties (more than 8 units) |
30,000 € per unit |
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Heating or A/C system |
Single property |
30,000 € |
|
Heating or A/C system |
Multiple properties (from 2 to 8 units) |
20,000 € per unit |
|
Heating or A/C system |
Multiple properties (more than 8 units) |
15,000 € per unit |
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|
|
|
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Works to reduce seismic risk |
For each housing unit |
96,000 € |
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Photovoltaic systems |
For each housing unit |
48,000 € |
|
Solar panel system |
For each housing unit |
48,000 € |
|
Charging stations |
For each housing unit |
3,000 € |
This poses a great opportunity for non-Italian residents to renovate and make houses more efficient from an energy and seismic point of view, with the fiscal aid provided by the Italian Government. These interventions are more than free; for example, if you spend 100 €, it is possible to get 110 € of tax credit.
Three possible solutions to spend the bonus
1. Use the fiscal bonus of 110% of the expenses incurred as a deduction. However, this option is not valid if you are a non-Italian resident and you do not have to pay income taxes in Italy.
2. Alternatively, it is possible to opt out for a contribution as an invoice discount applied directly by the suppliers. The client pays the invoice with a discount (up to 100% of the total amount) and the suppliers “buys” the fiscal credit from its client and then use it as a deduction.
3. Or, you could transfer the tax credit to third parties (such as banks, insurance firms and other organizations). These entities have established an average purchasing price of 100% of these fiscal credits. Furthermore, in some cases, third parties could grant a loan in advance, which they get back with the bonus obtained.
What we can do for you
It is not straightforward to obtain the bonus on your own due to the high number of documents and licenses requested. Therefore, it is necessary to request the support of an expert to avoid penalties. Our firm MGI Vannucci & Associati can analyse your specific case and provide you the best tailor-made solution. Our experts, thanks to their experience and professionalism, can support you in every step of the process, from preliminary authorizations to the transfer of your tax credit to financial intermediaries.
Please note that it is possible to include the expenses for the advisors in the “Superbonus 110%”.
Thanks to our experience and professionalism, we can provide support and assistance in your decisions. We can help you evaluate all aspects related to the Superbonus 110% and the renovation works required to obtain this tax benefit. Our firm MGI Vannucci & Associati has many years and recognized experience in tax consulting in Italy.
