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PHOTOVOLTAIC SYSTEM: TAX DEDUCTION

photovoltaic system

PHOTOVOLTAIC SYSTEM: INTRODUCTION

Now let’s see what the Building Renovation Bonus consists of, which also includes incentives for a photovoltaic system also in 2020 or photovoltaic tax relief or photovoltaic system tax deduction.

The 50% IRPEF deduction for general building renovations can also be applied in the event of the installation of photovoltaic systems, even with storage.

CHARACTERISTICS

Also for works started from 1st January 2020 and until next 31st December it will be possible to benefit from the tax deduction of 50% of the expenses incurred within the limit of 96 thousand euros of expenditure. The extension is valid both for works on single building units and for the renovation of the common parts of condominial buildings. Please note that the deduction for the photovoltaic system is part of the building renovations and not in the deductions for energy saving.

In addition,the deduction must be divided into 10 equal annual instalments. The Budget Law 2020 extends the deductions to 31.12.2020 and the interventions for the Superbonus to 30.06.2021, and similarly to what has already been provided for the energy requalification of buildings, has also provided that those who benefit from the bonus, will have to send to Enea, electronically, some data on the type of interventions carried out.

This information will be used by the Agency to monitor and assess the energy savings achieved as a result of the renovation work.

photovoltaic system

REDUCED VAT

For the interventions of recovery of the building heritage and also for photovoltaic systems you can also take advantage of the reduced rate in terms of value added tax or 10%.

In the case of new construction of first home you can request VAT at 4% but in this case the benefit is not compatible with the tax deduction.

BENEFICIARIES

There are several categories of people who can access the tax bonus thanks to the installation of the photovoltaic system.

More precisely:

  • the owner or the bare owner
  • the holder of a right in rem of enjoyment (usufruct, use, dwelling or surface)
  • the tenant or the borrower
  • members of divided and undivided cooperatives
  • partners in simple partnerships
  • individual entrepreneurs, only for buildings that are not instrumental or goods.

METHOD OF PAYMENT

Payment for the photovoltaic system must be made by postal or bank transfer, on which the following must appear:

  • reason for payment, with reference to the regulation (Article 16-bis of Presidential Decree 917/1986),
  • tax code of the beneficiary of the deduction,
  • tax code or VAT number of the beneficiary of the payment,
  • invoice number and date.

DOCUMENTATION NEEDED

Once the purchases and consequent payments for the photovoltaic system have been made, it is necessary to take care of the documentation to be presented to the qualified professional.

More precisely, it needs to be preserved:

  • transfer receipt,
  • documentation of debiting the current account,
  • invoices for the purchase of goods, indicating the nature, quality and quantity of the goods and services purchased,
  • possible communication to the ASL,
  • application for stacking, for newly built property,
  • receipts for payment of IMU, if due,
  • in the case of a building located in a condominium, the resolution of the condominium assembly approving the work and the relative cost allocation table,
  • Owner’s declaration of consent to the work,
  • the municipal authorisations required at the start of work.
photovoltaic system

INVOICE DISCOUNT AND ASSIGNMENT OF CREDIT

The expense will be paid back to you in 5 years, unless you sell the credit to businesses. Basically, the company will pay in your place and then recover the money as a tax creditor against the state. In turn, the company has the option of assigning the credit to other parties, including credit institutions(banks, etc.) and other financial intermediaries.

LEAVE A COMMENT

If you found the article interesting, leave a comment with your considerations on it.

Finally, if you need a personalized consultation to install your photovoltaic system, send an email to valeriadesign@casaomnia.it!

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