The textile relief scheme for the tax period in progress at 31 December 2021 is available in the full 30% of the value of the period-end inventories in excess of the average for the previous three years. Revenue Agency decision no. 236366/2022 states that the amount of the relief is equal to the full amount of the credit according to the application filed by 10 June.

In this application, the taxpayer applied for the fashion relief scheme, which pursuant to Article 48-bis of Legislative Decree No. 34/2020is available at 30% of the value of the period-end inventories in excess of the average of the same value recorded during the three previous tax periods. It should be recalled that the method and criteria applied to measure period-ended inventories during the tax period in which the benefit is available must be consistent with those used in the three tax periods considered for the average.

Each beneficiary may view the tax credit available in its tax documentation account, accessible from the confidential area of the Italian Revenue Service's website, and use it solely for offsetting in the F24 form, during tax periods after that of accrual.
The 250 million euro of resources made available is therefore sufficient to cover the applications by companies identified in the decree of the Ministry of Economic Development of 27 July 2021 operating in the textile and fashion industry, the production of footwear and leather goods, and in the sale of textile, fashion, footwear and leather goods products that carry out the activities identified by the following Ateco 2007 economic activity classification codes:

• •47.51 (Retail sale of textile products in specialised establishments);
• • 47.71 (Retail sale of apparel products in specialised establishments);
• • 47.72 (Retail sale of footwear and leather articles in specialised establishments).

If the tax credit exceeds 150,000 euro it may be used after the specific verifications following specific authorisation from the Italian Revenue Service.
For offsetting, the tax code 6983 already established for the previous edition of the fashion relief scheme pursuant to Resolution 65/E/2021 may be used. Beneficiary companies do not need to worry about offsetting the credit quickly becauseArticle 10-sexies of Legislative Decree No. 21/2022has modified the legal mechanism, providing that the tax credit may be used in the tax periods after that of accrual, thereby eliminating the constraint on use only in the tax period following that of accrual, which had caused offsetting problems in 2021, given the late determination of the maximum amount eligible for relief.