New revaluation of business assets: an opportunity not to be missed!

What are the changes compared to previous revaluations? Compared to the most recent "versions" of the revaluation of business assets, the new provision now allows each asset to be revalued separately and to carry out the revaluation with only civil effects: in this case the company, although improving its financial situation, is not required to proceed with the payment of the substitute tax, to be paid only in the case of revaluation with fiscal effects equal to 3%, to be paid cumulatively or in three installments.

What is the advantage of the revaluation operation with tax effects?The advantage of the revaluation with tax effects lies in the recognition of the greater value attributed to the assets and the consequent possibility of determining greater tax depreciation and/or of canceling/reducing the capital gain in the event of a subsequent sale.

From when will the beneficiary be able to enjoy the related tax effects? The greater value of the assets is recognized for tax purposes starting from the financial year following that for which the revaluation is carried out (in general, from 2021). For the purposes of capital gains/losses, the tax effect is deferred to the fourth following financial year (in general, from 2024).

What are the assets subject to revaluation? The revaluation concerns business assets, including shareholdings in controlled/associated companies pursuant to art. 2359 of the civil code, which constitute fixed assets, provided that they appear in the financial statements for the current financial year as of 31.12.2019 (2019 for entities with financial year coinciding with the calendar year) and that they are still present in the financial statements for the current financial year as of 31.12.2020. A significant innovation compared to what was foreseen in the past is represented, as mentioned above, by the possibility of carrying out the revaluation separately for each asset.