The Revenue Agency intervened in the matter of use of the tax credit and first home relief.
In particular he underlined that, in the context of relief for the first home, for theuse of the tax credit there are multiple possibilities.
First of all, it was remembered how the tax credit for the purchase within one year of the sale of the property for which the reduced rate provided for the purposes of registration tax and value added tax was used for the first home, another non-luxury residential house.
With its response, the Revenue Agency then underlined that with the circular dated 1 March 2001, n. 19/E, (paragraph 1.5, Use of the credit), it has been clarified that the taxpayer can use the tax credit by reducing it from the registration tax due for the purchase deed that determines it, or can use it in the following ways:
for the entire amount reduced by registration, mortgage and cadastral taxes, on inheritance and donations due on deeds and reports presented after the date of acquisition of the credit;
reduced by personal income taxes due on the basis of the declaration to be submitted after the date of the new purchase;
in compensation of the sums due pursuant to Legislative Decree 9 July 1997, n. 241.
And it was highlighted that 'in any case the tax credit does not give rise to refunds by express regulatory provision'.
But what are they? the conditions for benefiting from the tax credit? In this regard, the Revenue Agency recalled that the taxpayer must express 'his will in the deed of purchase of the new property, specifying whether or not he intends to use it as a deduction from the registration tax due for the deed being stipulated'. Therefore, 'the deed of purchase of the new property must contain, in addition to the declarations required by Note II-bis to Article 1 of the Tariff, Part I of the aforementioned TUR, the express request for the benefit in question with the indication of the elements necessary for the determination of the aforementioned credit (circular dated 12 August 2005, no. 38)'.
The Revenue Agency then mentioned the circular of 29 May 2013, n. 18, with which 'it was clarified that the tax credit can be used 'alternatively' in the cases indicated above. Taxpayers therefore have the right to choose how to use the
tax credit due to them.
Circular 24 April 2015, n. was then cited. 17, which clarified 'that in the event that the tax credit is used to reduce the registration tax due in relation to the purchase deed which determines it, only partially, the residual amount may be used by the taxpayer to reduce personal income taxes, or to offset the sums due pursuant to Legislative Decree 9 July 1997, n. 241'.
Responding to the case in question, the Revenue Agency underlined that the questioner, 'not being able to use the tax credit for the purchase deed of 13 December 2018, as it is subject to VAT', and using 'only partially, due to insufficiency, the credit in the declaration to reduce the Irpef', can request 'to be able to use the residue of his tax credit to reduce the registration, mortgage and cadastral taxes due for the stipulating a deed of sale.
Grimaldi Padua
Padua - 35137 - Via G. Matteotti, 27
e-mail: padovacentro@grimaldifranchising.it
Tel. +39 49 663 033 - VAT number 05301660287
Grimaldi Cadoneghe
Cadoneghe (PD) - 35010 - Via G. Franco, 2/A
e-mail: cadoneghe@grimaldifranchising.it
tel. +39 049 88 736 56 - VAT number 05322440289