How does the tax credit transfer mechanism work?

  • The homeowner, by 31 December of the year in question, must communicate to the administrator the data for the transfer of the tax credit, the acceptance of the transferee and the related identification data of that transferee.
  • The building administrator must communicate electronically to the Agenzie delle Entrate (Italian Inland Revenue agency), by 28 February of each year, the data of the transferee of the tax credit and the related acceptance of the credit received, in addition to the amount, defined based on the costs borne by the condominium up to the 31 December of the pervious year (communicated through software of the Agenzia delle Entrate).
  • Furthermore, the certification of the costs for the homeowner must be issued, indicating the electronic protocol with which the communication has been made to the Agenzia delle Entrate.
  • The Agenzia delle Entrate will display within the “Cassetto fiscale” (Personal tax file) of the transferee the credit that has been assigned.
  • The transfer must concern the entirety of the tax credit for each individual homeowner, the latter is not able to transfer only any residual instalments of tax credit.

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