Qualitaly_122

APR. MAY. 2021 XII financial intermediaries and holding companies. However, two requirements must be verified for the possible receipt of the money: the first relates to the access threshold obtained from the calculation of revenues or remuneration, which must be less than 10 million for the 2019 tax period. The second relates to the determination of the average monthly amount of turnover and fees for 2020, which must be at least 30% lower than the average amount for 2019. In short, it is necessary to evaluate the “monthly” data of 2019 and 2020 and, on the difference, apply a decreasing percentage as revenues increase: from 60% for revenues up to 100,000 euros and up to 20% for revenues exceeding 5 million but less than 10 million. How and when can I apply for this support? From 1 April to 28 May 2021, a communication must be sent to the Revenue Agency, including through intermediaries: the positive aspect is that there is no “click day”, so there will be no rush to the deadline. Therefore, all possible beneficiaries, if in compliance with the regulatory provisions, will get the aid from the State. Payments should have been made as early as 8 April. The Support Decree has committed 11.5 billion euros for over 3 million potential beneficiaries. Is there a “certain basis” for the money for all those who will receive the supports? According to estimates by the Revenue Agency, operators will get on average about 3,700 euros per person. Certainly not much, but it is hoped, in the short term, in an economic recovery and all sectors, with the reopening of activities following the vaccination and further interventions of the State to stimulate the economy of our country. What are the differences compared to what was presented by the previous government? There are some substantial differences that it is right to highlight. First and foremost, the new support covers a wider range of beneficiaries, including professionals who were previously excluded. The elimination of the limitation on Ateco codes and the new calculation criteria with higher contribution percentages are also highlighted. Also important is the cancellation of the limitation on the geographical location of the registered office or place of business, which created a lot of confusion among operators (e.g. the identification of the red zone). The Support Decree provides for the possibility of choosing the method of disbursement either by crediting a current account or by recognising a tax credit to be used in compensation, as well as being an easier to fill out and more streamlined model. Finally, we would like to remind everyone to be careful when filling in the form because, according to the data of the Revenue Agency, in previous cases of disbursements of non-repayable funds, about 10% of delays in crediting were due to incorrect IBAN codes or those not referring to the actual beneficiary of the contribution. ______________________________ BOX ITALIAN RECOVERY PLAN: AN AID FOR TOURISM The current situation implies the need to monitor all sectors of the economy, especially those linked to tourism, which has always been Italy’s driving force. This is why the signs of recovery, even if slight, give a slight optimism to the sector, ready to reopen in anticipation of the summer. “The actual recovery is expected to strengthen with the progress of the vaccination campaign and the arrival of the European Recovery Plan funds, aimed at infrastructure, digitalisation, green transition and services,” is what emerges from the survey by the European Union of Cooperatives (Uecoop), which also underlines another fundamental element: “the urgency that the funds reach companies promptly, so that losses can be limited and employment can be preserved”. IN GENERAL The European Union has approved an extraordinary fund aimed at financing economic recovery by issuing bonds to support projects established by reform and investment plans (Recovery Plan) in all 27 EU member states affected by the pandemic. Italy, too, by the end of April 2021, has presented the Recovery Plan to the Commission, with the possibility of “rediscussing” its contents until June: for our country, 83 billion in grants and 127 billion in loans are planned, but the resources that can be accessed are greater. THE FOCUS ON ITALY The Recovery Plan comprises four “challenges” and six “missions”, which come together to achieve the economic and social objectives defined by the Government. The four challenges are to improve Italy’s resilience and recovery, support the green and digital transition, reduce the economic and social impact of the crisis, and raise the economy’s growth potential and job creation. Accordingly, the six missions are identified as: digitalisation, innovation, competitiveness and culture, green revolution and ecological transition, education and research, infrastructure MAGAZINE