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Tax Pills

Holiday bonus: how much it is worth, how to ask it and who is entitled to the tax credit? In a Revenue Decision all the steps to obtain it

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The law decree n. 34/2020, so-called “Relaunch” decree, has instituted a new tax relief in favor of families, with ISEE - Indicator of the Equivalent Economic Situation - up to a maximum of 40,000 euros, to be used for the payment of services offered in Italy by tourist accommodation businesses, farmhouses and bed&breakfasts. In a Decision of the Revenue Agency Director, and in an ad hoc fiscal Guide, the all kit with the instructions needed to obtain the bonus.

The purpose of the fiscal bonus – Indeed, the decree put in practice the strong commitment to supporting two sectors particularly hard hit since the start of the emergency, tourism and culture, with measures including a tax credit of up to €500 for holidays in Italy.

The tax credit conditions - The bonus can be used under certain conditions from 1 July to 31 December 2020 by a single member per family and is recognized up to a maximum amount of 500 euros for families composed of more than two people. The amount is reduced to 300 euros for families made up of two people and 150 euros for those made up of one person. Particularly, the expenses must be incurred in a single solution for the services rendered by each tourism company and documented with an invoice or commercial document or receipt / tax receipt, which indicates the tax code of those who intend to benefit from the bonus.

How does it works - The bonus will be recognized for 80% directly by the operator, as discount on the price due for the overnight stay and for the services offered by tourist accommodation. The reimbursement will take place through the recognition of a tax credit, transferable to third parties and also to the banks. The rest 20% of the sum due will instead be deductible in the tax return. The discount applied is recovered by the supplier in the form of a tax credit that can be used in compensation without amount limits, using the F24 form. Alternatively, it can be transferred to third parties, including credit institutions and financial intermediaries.

*This guide, accessible on the Revenue official-site, intends to provide useful information for correctly requesting the new "holiday bonus", illustrating the methods and requirements, as specified by the Decision of the Director of the Revenue Agency of 17 June 2020, adopted with the favorable opinion of the Authority for the protection of personal data, after consulting the National Social Security Institute.

Stefano Latini

URL: https://www.fiscooggi.it/tax-pills/articolo/holiday-bonus-how-much-it-is-worth-how-to-ask-it-and-who-is-entitled-to-the-tax