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80218 Interessi passivi e ROL: deducibilità

Interest expense included in inventories always avoid the narrow introduced by the 2008 Budget, although it is not real estate commodity. The resolution clarifies 3/Dpf tax policies released yesterday by the Department of the Ministry of Economy. The new Article 96 of the Uniform Tax Code provides, subject to the IRES, a limit on the deduction of financing costs equal to 30% from operating account Economic, before depreciation and lease payments (Rol). The provision applies from the 2008 (Act 2009) and excludes from the comparison with the threshold for deductibility - Allowing a full deduction - interest included in cost of goods in accordance with Article 110, letter b.Si thus responds to the doubts about the exact contents of the exemption, in particular on the possibility of extending its scope to other cases provided for capitalization accounting principles, not mentioned by the rule (in Il Sole 24 Ore, 5 January). The note recalls that fall within the scope of Article 110 Tuir borrowing costs that are defendants, according to proper accounting principles, to the increased acquisition of capital goods, or in the cost of construction or renovation of buildings whose production is the direct activity of the company ("property-goods'). The reason for the exclusion of these interests by the test of deductibility, the Department makes clear, is the fact that these are elements that contribute equally to the formation of cost accounting and taxation of property. The same treatment, adds the resolution, is also about the interests that are capitalized, always in accordance with proper accounting principles (OIC 13 and IAS 23), the value of any other type of inventories of goods or services, provided that, for tax purposes , inventories are still taken in accordance with the value represented correctly in bilancio.A unlike what happened in the past, the Department continues even when the market capitalization, while noting in terms of valuation of inventories, not allowed to circumvent any limits on the deductibility (in this sense was expressed Assonime, in Circular 139/94), the interests involved are now exempt from testing Rol like those specified in Article 110. This is because the mechanism provided by the new Article 96 is based on the relationship between operating income and interest expense, therefore it is illogical to refer to limit the deductibility of a burden that contributes itself, positively, to create the Rol periodo.Sfuggiranno therefore the tight on interest charges relating to loans granted in respect of specific items that require a manufacturing process of several years before being sold, which (OIC 13, par. D.III.m) can be included in inventories only to the production period, provided that the total value does not exceed the realizable. Interest expenses that are capitalized in the manner described above so end to create a double benefit: in addition to exclusion from deductible threshold, combine to increase the Rol used to infer additional financial burden.