Fashion in crisis, for Camera Moda the priorities are tax credit and redundancy fund

"For every billion less in turnover in the made-in-Italy fashion sector, the state loses around 250 million euros in trade surplus. This is why attention to our demands must be seen as an investment in the country. Our priority, moreover, is to take the entire supply chain beyond this time of crisis, preserving the existence of small companies and keeping employment levels intact'. These words were spoken by Carlo Capasa, president of the National Chamber for Italian Fashion, an association that brings together the major brands.

The sector as a whole is experiencing a critical moment: it is expected to close 2024 in a downturn of between -3.5 per cent and -4 per cent with turnover 'enlarged' to include eyewear and beauty under 100 billion for the first time since pre-Covid, but segments such as clothing down by -8 per cent. Hence the need to take corrective action with timely proposals, some of which have been tabled among the amendments to the Budget Bill 2025 and are now at the skimming stage.

The key issues are two: 'The research and development tax credit used in the 2015-2019 period and the restitution of which has been requested following the change in the interpretation of the rule with retroactive effect,' says Capasa, 'for which we have asked for a 30% balance and write-off, with payment deferred over 10 years (Article 74 envisages a 'refund' of 190 million over three years, ed.) And then the reinforcement of the ordinary redundancy fund for companies with less than 15 employees: these are the ones at risk of closing".This last measure would cost the State about 80 million.

Cnmi's proposals to the government also include a tax relief for those who take over minority shareholdings in SMEs in crisis, provided they do not lay off staff, with a cost of about 100 million to be budgeted for next year, the creation of a certification for the control of the production chain of fashion companies and an increase in the threshold for the tax relief of fringe benefits. Finally, the CNMI has proposed the establishment of a fund for the promotion of 'Made in Italy' of 15 million spread over three years..