ELThe previous purchase of the first home for children under 36, stipulated by the father, who on the occasion paid a deposit and an initial payment to the builder, does not prevent the young person from benefiting from the tax credit equal to VAT. paid, also in relation to the invoices made to the parent. What matters is that his father has formally “appointed” the owner of the estate. This is what we read answer n. 261 of May 11, 2022 ofTax Agency.
The petitioner, in fact, specifying that when signing the final deed, once the balance has been paid, the property will remain in his name and that he will immediately move his residence there, he is not sure that he will be able to take advantage of the facility provided by the Article 64, paragraph 7, of the Legislative Decree “Sostegni-bis”, which provides that the acts referred to in paragraph 6, relating to transfers subject to value added tax, are attributed to buyers “. who have not yet reached the age of thirty-six in the year in which the deed stipulates a deduction equal to the value added tax paid in connection with the purchase The deduction may be deducted from the registration tax, mortgage, land. registration, successions and donations due in deeds and reports submitted after the date of acquisition of the credit, or may be used to reduce the personal income tax due of individuals due according to the declaration. and must be filed after the date of purchase; may also be used in compensation in accordance with Legislative Decree July 9, 1997, n. 241. In any case, the deduction does not give rise to refunds’, since the invoices relating to the bond and advances, with the application of the 4% VAT, issued by the builder, were made to the father who sign. the contract that promises to “acquire for himself or for a natural or legal person that will be called the right of full and exclusive ownership of the property.”
In this regard, the Agency notes that the “Designation Contract”, governed by Articles 1401 et seq. Of the Civil Code, provides for a declaration of formal appointment, made in the light of the rules of reference.
Therefore, for the petitioner to be replaced as a contractual part of the pre-agreement originally stipulated by the father “for himself or for the person to be appointed”, acquiring the rights and assuming the obligations arising from the same contract, with effect from what has been stipulated (including the use of deposit payments and prepayments already made by the parent), must be validly designated.
Also, since the buyer benefiting from the subsidy “first home under thirty-six” is granted a tax deduction “equal to the value added tax paid in relation to the purchase”, it will be necessary that from the The deed of sale of the property, stipulated by the applicant after his appointment, expressly indicates the advances already paid by the father, indicating the relative amounts and forms of payment, as well as the details of the invoices made to the same parent with application for the subsidized VAT rate at 4 percent.
In other words, the deed of sale must state the amount of VAT paid in relation to the subsidized purchase, which will constitute the deduction recognized in favor of the buyer under the age of thirty-six.
Finally, for the sake of completeness, the Agency notes that the tax deduction is up to a maximum of 4 percent. In fact, Article 64 (7) provides for a tax credit for deeds subject to VAT “referred to in paragraph 6” or for “deeds of transfer for consideration of the ownership of ‘first homes’ of residence “.