News coming on the school bonus, the tax credit for donations to Italian schools. On Monday, the Revenue Agency published a resolution (n. 115/E) with which it establishes the tax code 6873 for this benefit, which can be used starting from 1 January 2017 by individuals with business income.
WHAT IS THE BONUS SCHOOL
The school bonus is recognized in relation to the sums paid for the construction of new school structures, the maintenance and upgrading of existing ones and support for interventions to improve the employability of students.
Taxpayers who choose to join will be granted a credit equal to 65% of the donations made in the 2016 and 2017 tax periods and 50% of those made in the 2018 tax period. The maximum amount of donations admitted to the subsidy tax is equal to 100 thousand euros for each tax period and the related credit is divided into three equal annual installments.
For more information, you can consult the website dedicated to the school bonus.
HOW TO USE THE SCHOOL BONUS
The tax credit is indicated in the tax return relating to the tax period in which the disbursements are made. The credit is divided into three equal annual installments and the unused annual installment can be carried forward without any time limit. Individuals and entities that do not carry out commercial activities benefit from the tax credit in their tax return, for the purpose of paying the related taxes.
For subjects with business income, on the other hand, the tax credit can be used, without prejudice to the division into three equal annual installments, starting from the tax period following the one in which the donations were made, exclusively in compensation using the F24 form, writing the tax code 6873 in the "Tax Revenue" section, in the "compensated credit amounts" column, with the indication, as "reference year", of the tax year in which the the donations.
