Bonus ‘Theater and Shows’, to whom it belongs

The instructions from the Inland Revenue arrive to request the new bonus for the theatrical and live entertainment sector, as required by the Sostegni Decree. In the circular published today, in fact, indications are provided on how to obtain the contribution, in the form of a tax credit of 90% of the expenses incurred in 2020, on the requirements to be met and on the types of eligible expenses. Bonus Theater and Shows, the audience of recipients: the tax credit is recognized in favor of companies that carry out theatrical activities and live performances, also through the use of digital systems, and can only be used in compensation. In addition to resident companies, the bonus can also be used by permanent establishments of non-resident entities, which, regardless of the legal nature, the accounting regime adopted, as well as the size of the company, operate in the field of theatrical activities and live performances. Among these activities, by way of example, naturally include theater, music, including opera, dance, circus and traveling show activities. Both commercial entities and non-commercial entities can also benefit from the contribution, but with reference, for the latter, to any commercial activity carried out. benefit provided they meet the requirement of the reduction in turnover. In particular, it is necessary that the amount of the turnover for the year 2020 has undergone a reduction of at least 20% compared to the amount of the turnover for the year 2019. Having verified this condition, the rule provides for the recognition of a credit of tax equal to 90% of the expenses incurred in 2020, which, it is useful to remember, is due even if the activities indicated above took place through the use of digital systems for the transmission of live works, such as theatrical performances, concerts, ballets. Which expenses are included in the bonus: the circular indicates the types of expenses eligible for the calculation of the tax credit. This includes, in particular, costs attributable to a series of macro categories, including costs for personnel, production costs (such as rental for sets, costumes and instruments, rental of rehearsal rooms), advertising, training, transfers, but also the purchase of new attractions, installations and equipment, damage due to fortuitous events and the structuring of areas equipped for circuses and traveling shows.