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Amounts to be indicated in the income statement under revenue items

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Amounts to be indicated in the income statement under revenue items

In the accounting management of tax credits, given the high bills emergency, energy bonuses play a leading role. Regardless of the reference standards and the criteria with which i are calculated tax creditin any case, these are proceeds that:
they must be charged to the income statement on an accrual basis;
they do not contribute to forming the income tax base, nor that for Irap purposes;
they can be used in compensation by a certain date, or they can be transferred to third parties.

The increase in revenues

The first issue to analyze is the allocation in the income statement: a subject that requires some reflection. There is no doubt, in fact, that we are talking about a measure aimed at reducing the impact of the energy cost on the companies’ budget. But does this mean that the accounting must represent a reduction in cost or an increase in revenue? From this point of view, it is preferable to indicate the income among revenues in item A5 of the income statement, qualifying it as an operating grant. And this for two reasons:

1. the solution is suggested by the Oic 12 document, which with regard to operating grants includes both those that supplement revenues and those that reduce costs, provided that they are costs in area B of the income statement; since if they were contributions to reduce interest expense they should instead be accounted for as a direct reduction of item C17;

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2. the energy tax credit, in the various decrees that instituted it, presents a constant element: the non-competition in the formation of taxable income and the IRAP base. And to implement this principle, it is certainly preferable to detect the tax credit as income, with the consequent diminutive variation in the Income model, rather than performing a diminutive variation referring to a cost which – as netted of the contribution – would result in the absence of recognition in the income statement of the same portion of the contribution (which could create problems on the principle of derivation).

The financial cost

The energy tax credit can also be transferred to third parties, at a consideration that will probably be lower than the nominal value of the credit itself, thus generating a cost represented by the negative differential. This difference should be considered as a cost of a financial nature to be indicated in item C17 of the income statement (however, this is how we behave with the transfer of other tax credits by companies, as in the case of the superbonus).

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