Incentives and contributions in agriculture for agricultural machinery

A sector of work that is often underestimated but can provide satisfaction is the agricultural sector. Agriculture is a sector where you can do business. And it is a sector where it is easy to do business. In particular, you look at the myriad of benefits, incentives and contributions that can help you start a business. Even for buying tractors or farm machinery, which are essential to start the business, there is no dearth of concessions.

Incentives and contributions in agriculture for agricultural machinery

The agricultural sector is full of bonuses and incentives. But some incentives are not particularly utilized because they may not know about most of them. And there are advantages that do not necessarily need to be taken advantage of by those who have a lot of land or decide to open a large business. The incentives, which can be quite important, apply both to starting a new business in the agricultural sector and to already active businesses and entrepreneurs. To reduce everything to agricultural means useful for tilling the soil is not appropriate. In fact, even the latest budget maneuver confirmed, expanded and strengthened some measures, such as the tax credit for capital goods and the so-called 4.0 technology.

In fact, there are up to 2.5 million euros in incentives for the purchase of the latest generation of agricultural machinery, with a contribution in the form of a tax deduction corresponding to 40% of the costs incurred. It drops to 6%, but it is still an important incentive, that for the purchase of any other type of agricultural machinery, even if it is not of the latest generation. In this case, the maximum permitted investment threshold is 2 million euros.

The Farm Machinery Incentives Guide

Of course, tax credits mean being able to offset taxes thanks to this concession. In practice, the VAT, IRPEF, IRES, IRAP, IMU and INPS contributions can be reduced. By utilizing this tax credit to be transferred to the F24 form for the payment of these taxes, the interested parties will pay less tax. The incentive does not make territorial distinctions or even the form of the company. In fact, it is open to any company active throughout the Italian territory.

Even the tax scheme does not count as the company’s legal form. This wildfire extension of the possibility to take advantage of the tax credit is very important. In addition to agricultural enterprises in the form of companies or sole proprietorships, professionals who carry out agricultural work on behalf of third parties can actually also participate in this incentive. It is also possible to take advantage of the incentive for those who want to convert old agricultural machinery into new technological agricultural machinery. A simple self-certification is enough to be able to participate in the tender if the investment does not exceed € 300,000, otherwise the intervention of a technician with a sworn technical expertise is required.

When we talk about high numbers, of course we need to understand how to make full use of the facility. The credit can be used for three consecutive administrative years. In practice, the beneficiary can offset the taxes that must be paid in three consecutive years in three equal installments. Whoever takes a 200,000 euro state-of-the-art agricultural machine will be able to recover 80,000 in three annual installments of the same amount. On the other hand, those who take an old agricultural machine worth 50,000 euros will be able to get a tax deduction of 3,000 euros. Incentives and contributions in agriculture for agricultural machinery are therefore very attractive and, above all, not difficult to achieve.

Recommended reading

How to earn up to 30,000 euros by installing solar panels on the roof of the house with a price of 3,000 euros or even for free thanks to incentives, savings and sales of electricity

We remind you to carefully read the warnings regarding this article and the responsibility of the author, which can be consulted HERE”)

Leave a Comment