R&D credits, fashion united in no to total reversal The demands: from balance and write-off to legal certainty
4' min read
4' min read
If Italian fashion suffers from several internal divisions - linked to the diversity of production, customers, objectives - the topic of the research bonus seems to have recomposed the entire sector in a no to the voluntary return of credits used almost ten years ago.
The Altagamma Foundation, which brings together more than 120 luxury brands in various fields, also has a clear position on this issue: 'The interpretative turn of events, which does not include design and prototyping activities among the Research and Development activities eligible for tax relief, has generated a situation of serious difficulty for many companies and fashion members of the Foundation. What's more, in a delicate economic period,' say Altagamma. Which has 'repeatedly sent its recommendations to the government'. The Foundation's proposal is in line with that of Camera Moda, i.e. that the repayment of the credits - which were granted at the time - should take place to the extent of 30% and over 10 years. Altagamma's position is that 'the companies have acted in good faith and what is happening seems contrary to that essential principle of legal certainty'.
The reversal of the disputed tax credit on research and development expenditure is just one of the issues on which the National Chamber of Fashion has appealed to the Meloni government and which range from welfare to the redundancy fund for small businesses. The requests come at a critical time for Italian fashion, which is expected to close 2024, according to Camera Moda's Fashion economic trends, under 100 million euros in revenues.
With a view to easing the burden on companies that are currently dealing with a critical moment, the association has requested - as already promised by Minister Adolfo Urso after the Fashion Table on 6 August - an increase in the ordinary redundancy fund. The proposal envisages the recognition of eight weeks of lay-off - as an exception for the tax period - for companies in the sector with fewer than 15 employees. In addition, the association has requested a regulatory provision that facilitates and facilitates - where required by SMEs in difficulty - possible minority shareholdings and pure brand support in the capital of the artisan-manufacturing realities of the sector that are currently in difficulty.
