August bonus, the non-repayable fund arrives: how it works and to whom it belongs

Here comes the non-repayable bonus designed for shops and commercial activities, the measure was approved by the August decree, but it is not for everyone. Among the requisites to have access to the contribution there is that of the lease: the shop / business must in fact be located in an area considered to have a high tourist rate. But let’s see together what it is and to whom it is addressed.

Tourism sector in crisis: the August bonus arrives

Although the entrepreneurs have been more or less all affected by the Coronavirus emergency, there is a category of merchants who have paid the most for the lockdown: they are the owners and managers of shops and / or businesses located in the so-called historic centers, or those with a high tourist rate.

The transport restrictions and the fear of possible contagion have registered one strong setback to tourism. For this reason, today there are many operators in the tourism sector who continue to ask for help and support from the Government. Italian tourists, in many cases, have not been able to fill the lack of income deriving from less influx of foreign tourists, so the Executive, with the decree August, has seen fit to meet those who now have to deal with these losses.

Who is entitled to the grant: the recipients of the August bonus

Ma who is entitled to the August bonus? And recipients of the non-repayable grant they are: all economic and commercial businesses open to the public and carried out in the historic centers of the municipalities that have or have recorded over the years a high rate of presence of foreign tourists.

In this case, to locate the beneficiaries, it will be necessary to refer to the latest revelation on the presence of foreign tourists residing in foreign countries: if the data is greater than at least five times the number of residents, then the non-repayable grant will be recognized by the Revenue Agency.

The shops and businesses in possession of this requirement must then demonstrate that they have undergone a drop in turnover, comparing the lower revenues in June 2020 to those of the same month declared in 2019.

August bonus to traders and business operators: what is due

The amount due recipients of the August bonus will be related to the loss of turnover. In particular, the non-repayable amount must be calculated by applying to the losses recorded compared to last year a percentage of:

  • 20% for subjects whose proceeds did not exceed i 400 thousand euros in the previous tax period;
  • 15% for those whose proceeds exceeded 400 thousand euros but they were less than one million euros in the previous tax period;
  • 10% for individuals with revenues over one million euros in the previous tax period.

The recognition of the bonus as well as its calculation remains the responsibility of the Revenue Agency.

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