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There is another aid to the hotels in the maneuver. Article 6 bis of the Liquidity Decree provides that companies in the sector (and the spa sector) increase the value of their assets without taxation. Free, no cost. Only the expert fee is paid. With the declaration of December 31st, the “new” depreciation fee for the next 30 years can be deducted. With a disadvantage for the state coffers estimated by the Accounting Office at three million euros a year, but it could be much more. And from 2024, the revalued value will be valid as a basis for calculating any capital gains to be taxed.
The controversy over the decriminalization of non-payment of the tourist tax (a crime of which Giuseppe Conte’s “father-in-law” was guilty) provided for by a rule included in one of the executive measures was not enough. The impression is that this measure is also one more favor for the father of the premier’s partner. Federalberghi does not think so. “The sector has lost 60% of the turnover – the general director Alessandro Nucara tells the newspaper – we are offended to hear that it is the recipient of favoritism. The problem is exactly the opposite: the crumbs are destined for tourism companies. As for the Nucara measure, it states: “The special regulations will allow companies to strengthen and present themselves to the banking system with more solid assets.” It will be … But then why not extend the benefits to all sectors? “Whoever is lost at least for this year does not recover anything,” explains the accountant Gianluca Timpone to the newspaper, while “for the other hotels the benefits will only come in the following years.” In addition, “if the amount of the revaluation that is recorded as a reserve in the balance sheet is distributed to the shareholders (on a transparent basis), the amount distributed will not be taxed either to the shareholders or to the company. And on the amount entered in the reserve, the payment of a tax decidedly lower than the benefits is expected ”. An example? «On the revalued assets the company recovers 3%. It means € 300,000 for every 10 million higher costs, which is equivalent to about € 84,000 less in taxes per year. However, after the fourth year no taxes will be paid on capital gains because the new revalued value will be taken into account ”, concludes the accountant.
“Whereas if the revalued asset is sold before five years, the tax advantage is lost”, continues Nucara. Whoever, on the issue of the prime minister’s “father-in-law”, points a finger at “the reservation portals, free of controls and sanctions, which since 2017 mock the law,” then underlines: “Decriminalization puts an end to a disgrace. The criminal sanction (imprisonment for 4 to 10 years and six months) was disproportionate for the hotelier, who was forced to act as debt collector for free on behalf of the Municipalities, and was also applicable in case of late payments for a few days or errors of a few EUR “. Meanwhile, the prime minister’s “father-in-law” also benefited. And for events dating back to 2014.
