LOST FUND GRANTS

The provision in which the procedures for submitting the application for the recognition of the non-repayable grant were published by the revenue agency 

The submission of the Application can be made starting from March 30, 2021 and no later than May 28, 2021  

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Provided by article 1 of the Legislative Decree, the contribution is recognized to holders of VAT numbers who carry out business activities, art or profession or produce agricultural income.

The contribution is due exclusively to subjects with fees and revenues relating to the 2019 tax period not exceeding 10 million euros provided that the average monthly amount of turnover and fees for the year 2020 is at least 30% lower than the average monthly amount of turnover and fees for the year 2019.

In order to correctly determine the aforementioned amounts, reference must be made to the date on which the sale of goods or the provision of services was carried out. For the calculation of the monthly average, subjects who have activated the VAT number from 1 January 2019 must consider the months following that of activation of the same.

The requirement relating to the decrease in turnover is not required for subjects who have activated the VAT number from 1 January 2019.

Excluded:

- the subjects whose activity was terminated on 23 March 2021 (date of entry into force of the decree);

- the subjects who have activated the VAT number after the entry into force of the decree;

- the public bodies referred to in art. 74 of the TUIR;

- financial intermediaries and holding companies pursuant to art. 162-bis of the TUIR.

The amount of the non-repayable grant is determined to an extent equal to the amount obtained by applying a percentage to the difference between the average monthly amount of the turnover and the fees for the year 2020 and the average monthly amount of the turnover and fees of the year 2019 as follows:

- 60% for individuals with revenues and fees not exceeding € 100,000;

- 50% for individuals with revenues or fees exceeding 100,000 euros and up to 400,000 euros;

- 40% for individuals with revenues and fees exceeding € 400,000 and up to € 1 million;

- 30% for individuals with revenues and fees exceeding 1 million euros and up to 5 million euros;

- 20% for individuals with revenues and fees exceeding 5 million euros and up to 10 million euros.

The contribution is recognized for a minimum amount of:

- € 1,000 for individuals;

- 2,000 euros for different subjects.

In any case, the maximum amount due will not exceed € 150,000.

By irrevocable choice, the contribution can be paid by bank transfer directly to the current account in the name of the beneficiary or as a tax credit, to be used exclusively in compensation using the F24 form.

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