Since the 70s, Italy has progressively introduced a technical regulation aimed to increase anti-seismic planning/design
of new buildings. Notwithstanding, up to now it is estimated that only 5% of existing buildings have been built according
to modern standards.
The opportunity of the so called sisma-bonus
The Law Decree n. 63 of 4th June 2013, so called Sisma-bonus, has introduced a special fiscal deduction of 65% of expenses
for preventive works and intervention for seismic improvements and compliance measures of existing buildings. These regulations
have been extended by the next Stability Laws. They are, however, an example of contingent measures, i.e. with a limited and
restricted timeframe (that is, one year). For this reasons, these measures have not been applied in a systematic way. Under
this aspect, the Sismabonus envisaged by the Stability Law 2017 (232/2016) introduced an important innovation. The timeframe
within which it is possible to undertake the interventions was extended, allowing a long term planning and the possibility
to introduce a system that quantifies the seismic risk of buildings and the benefits gained through the interventions. This
planning activity represents a guarantee of efficiency of the investments, concerning the seismic safety and the expected
economic benefits. It also represents the condition for the fiscal measures to be effective. That is a real incentive for
investments and for the whole economy, reducing the general seismic risk and the earthquakes overall costs.
The Stability Law 2017 has changed the measures of the Law Decree 63/2013 (sc. Sismabonus) envisaging its implementation according
to the classification of seismic risk of the buildings. The principal novelties introduced concerning the fiscal deduction
for expensed for anti-seismic interventions are the following:
- High fiscal deduction is envisaged for interventions reducing the seismic risk, according to the guide lines for the classification
of seismic risk for buildings
- The timeframe for the tax relief is extended up to 31 December 2021;
- The possibility of the fiscal reduction is implemented in seismic zones 1, 2 and 3 (thus including also zones with minor risk,
which were previously excluded by the regulation)
- Incentives are relevant for residential buildings (not only, as previously envisaged, for that used as principal residence)
and for buildings for productive activities
- The fiscal credit can be spread for a period of 5 years
- Expenses for the seismic classification and for the building check are covered by the fiscal deduction
- The credit tax transfer is admitted not only for construction firms, but also for third parties (private persons and excluding
credit institutions) but only for interventions on common parts of condominiums.
The admitted deduction rates are applicable as follows:
- 50% deduction for anti- seismic measures.
The deduction may significantly be increased when the fulfilment of interventions leads to a reduction of seismic risk enabling
the shift to a lower class of risk: More specifically, the fiscal deduction increases to:
- 70% for reducing the risk by one class
- 80% for reducing the risk by two classes.
When the interventions have been realized on common parts of condominiums, fiscal deduction further increases:
- 75%, for a reduction by one risk class
- 85%, for a reduction by two risk classes.
The deduction may be applied to expenses amounting to less than 96,000 Euro multiplied by the number of units in the building,
and spread by 5 annual equal shares.
Furthermore, measures have been introduced to sustain the building substitution, i.e. interventions undertaken trough demolition
and reconstruction. The benefits are relevant for buildings located in risk zone 1 municipalities, where works
for reducing the seismic vulnerability are carried out through demolition and reconstruction of the whole building by construction
companies or real estate refurbishment companies). Under these conditions, a deduction on the purchase price for the
buyer of a single real estate unit of the re-built building is envisaged, as reported on the public act of purchase, as follows:
- 75% for interventions determining the passage to one risk class lower
- 85% for intervention determining the passage to two risk classes lower
Alternatively, the possibility for the buyer to opt for the fiscal credit transfer is envisaged, corresponding to the amount
of the fiscal deduction.