The tax credit transfer and the role of Enel X

The transfer of tax credit means that you do not have to bear the costs for building works included in the range of tax incentives outlined in the Eco-Sismabonus nor wait for the standard 10 instalments over 10 years to recoup the tax credit. With a single solution, Enel X will take care of it all for you.

Published on 7 February 2019

The tax credit transfer and the role of Enel X

The Eco-Sismabonus 2019 incentive offers 50% to 85% tax credits (recouped over ten years) on the expense of carrying out home energy upgrades on your condominium, from the replacement of heating systems to the installation of External Wall Insulation Systems, and for seismic retrofitting.  The transfer of the tax credit means that you no longer have to worry about how and when you will recoup your outlay, because Enel X takes care of it directly.  If you entrust our team with your home energy upgrade or seismic retrofit projects (in high-risk areas), your condominium will pay only the expenses not covered by the Eco-Sismabonus.

A wide range of possible interventions qualify for tax credits, each with its specific incentives.  For example, it is possible to qualify for a tax credit covering 85% of the costs of work that results in an improvement of two classes in the seismic risk classification, when carried out at the same time as External Wall Insulation, the ideal way to reduce heat loss and, consequently, winter heating and summer refrigeration loads.  Work on centralized heating systems offers tax credits ranging from 50% to 65% for the installation of condensing boilers (minimum Class A) and 65% for those including heat pumps.  A tax credit of the same percentage is available for building automation systems and solar collectors, while a 50% incentive is available for windows and window fittings.

What exactly is a tax credit transfer?  It is an option, offered to the beneficiary of the tax credit, of transferring that credit to the suppliers of goods and services who will carry out the work, in this case Enel X. “Tax Credit transfer” is available to all those taxpayers who wish to carry out energy upgrades or seismic retrofitting work on the common areas of their apartment buildings. The taxpayer may then transfer the tax credit calculated on the basis of the expenses approved by the meeting of the homeowners in the condominium for the project, or on the basis of the expenses borne by the condominium in the tax period in question.

How does the credit transfer work? By 31 December of the relevant year, the homeowner must inform the condominium administrator that the credit transfer has been carried out with the acceptance of the recipient and all relevant identifying data.  Then it is the responsibility of the condominium administrator to provide the Income Revenue Agency (Agenzia delle Entrate), using the specific software created for the purpose, by 28 February, with the information of the recipient of the credit, their acceptance of it and the specific amount, calculated on the basis of the expenses borne by the condominium at 31 December of the previous year. The condominium administrator will then provide each homeowner with certification of the expenses for the work carried out, indicating the identifying electronic system protocol number.

The Income Revenue Agency will publish the credit granted in the “Tax Box” (an internet service provided by the Revenue Agency that gives taxpayers the possibility to consult their fiscal data) of the recipient, who may use it only after it has been accepted using the functions that are available in that “Tax Box”. The recipient may take advantage of the transferred tax credit from 10 March of the year following the condominium’s payment of the building expenses and within the limits in which the homeowner has contributed to the relevant expense. Following the initial transfer, a single additional tax transfer is allowed, in accordance with the limits and criteria applied to the first transfer.

What does Enel X do?

By choosing to transfer the tax credit to Enel X, the condominium will see a significant drop in the costs of the home energy upgrade and/or seismic retrofitting projects, with a subsequent positive impact on the potential customer base for this type of building intervention. Furthermore, it is clearly an advantage to have Enel X as a single interlocutor and supplier of experience and know-how in a wide range of services, from energy consultancy to project design, from the supply of products to the construction of civic works, from support in managing administrative procedures and, as outlined above, in the transfer of the tax credit granted for the specific work carried out.

In other words, you can improve the comfort of your own home, increase the value of your property, save on consumption costs and guarantee your family the safety it deserves with Eco-Sismabonus and the transfer of tax credit to Enel X.

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Source: Budget Law 2018/2019, Revenue Agency

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