Operational guide to the “tax decree” (O.J. no. 177 of August 1, 2025) on losses, VAT, maxi‑deduction, 2025–2026 biennial preventive settlement and trade fair grants

Operational guide to the “tax decree” (O.J. no. 177 of August 1, 2025) on losses, VAT, maxi‑deduction, 2025–2026 biennial preventive settlement and trade fair grants

Law 108/2025 (conversion of D.L. 84/2025) updates rules and requirements with a direct impact on tax planning, administrative processes and development choices. There are four chapters to monitor: loss carryforward in extraordinary operations, VAT (reverse charge and split payment), maxi‑deduction of labor costs for employment increases, 2025–2026 biennial preventive settlement for ISA subjects and we also point out a subsidy at the Lombardy Region level on non-repayable grants for participation in trade fairs in Italy (applications from October 8, 2025).

To manage this phase well, three moves are required: update procedures and systems (accounts receivable/payable, HR, management control), review contracts and internal baselines and set up cost/benefit simulations to seize opportunities without exposing oneself to risks. The article summarizes what is changing, with practical indications on timing, documentation and control points.

Loss carryforward: vitality test, equity capacity and timing of operations

The discipline of loss carryforward is reinforced to avoid unjustified carry-overs in the event of contributions, mergers and spin-offs. Two safeguards become decisive: the vitality test (minimum consistency of revenues and labor costs in the reference year) and equity capacity as a ceiling on carryforward losses. In reorganizations at current values (appraisal), capital contributions made in a previous period affect the limit to neutralize merely formal increases.

What it implies in practice:

• The choice between accounting net equity and appraisal values is not neutral: the appraisal offers a more realistic snapshot but activates anti-avoidance constraints on contributions.
• The calendar between resolutions, appraisals and accounting effective dates influences the share actually carryable: the timing must be designed ex-ante.
• A scenario model (contribution vs merger vs sale) that measures effects on losses, interest expenses and other tax assets, and a substance-over-form dossier (industrial rationales, business analysis, tax working papers) are needed as support.

For groups, coordination between tax, legal and corporate finance is essential; for SMEs, the most sensitive variable is the timing of operations compared to appraisals and financial statements closings.

VAT: reverse charge in logistics and reshaping of the split payment

On the VAT front, intervention occurs on two lines:

• Roll-out of the reverse charge mechanism in segments of the logistics chain (transport, handling, warehousing), also throughout the contract/subcontract chain, with transitional phases and alignment with the EU framework.
• Disapplication of the split payment for some counterparties (for example, specific listed issuers), with a return to the ordinary regime: the supplier returns to charging and paying VAT, the customer deducts according to general rules.

To implement the changes:

• Map contracts (contract/subcontract) and identify potential reverse charge cases.
• Update ERP, VAT codes and master data; test a sample of documents before go-live.
• Review clauses on VAT liability, prices and payment terms, given the cash-flow variation for suppliers returning to the ordinary scheme.

If a quick path is needed, the Gruppo AQ team can perform an end-to-end assessment (contracts, processes, system tests) with operational notes for customers and suppliers, reducing the risk of recurring errors.

Maxi‑deduction for employment increases: baseline, accumulations and hiring schedule

The maxi‑deduction of labor costs for new permanent hires is made more consistent with group dynamics: decreases in associated companies are no longer included in the calculation of the employment increase (subsidiaries remain relevant). The metric becomes more stable, but requires a rethinking of baselines and HR‑Tax reports.

How to set it up well:

• Define a homogeneous baseline (average FTEs, periods, transformations) and a shared HR-Tax dashboard.
• Simulate scenarios with a mix of profiles, pay levels and onboarding times, verifying cumulability and priority with other incentives.
• Plan a hiring schedule consistent with the subsidized timeframe (including front-loading, if useful) and monitor turn-over to preserve the net increase.

Operational example: concentrating 60–70% of hires in the first half of the year can increase the deductible base for the year and stabilize the increase. Where necessary, project support can include payroll, budget and probative reporting.

2025–2026 biennial preventive settlement (ISA): when it makes sense to join and how to decide by 09/30/2025

The biennial preventive settlement for ISA subjects offers predictability of the levy and mitigates the risk of assessment. The conversion clarifies coverage on past years and modulates benefits/penalties in relation to joining.

To decide methodically:

• Compare standard taxes vs settled taxes over a two-year horizon.
• Perform sensitivity analysis (revenues, prices, costs) and evaluate the impact on cash-flow and covenants.
• Prepare a file (ISA, estimates, working papers) documenting the hypotheses and the choice.

It is a sensible choice with volatile margins or difficulties in analytical reconstruction of the base; less recommended if expected profits are significantly lower than the settleable base.

MIMIT grants for trade fairs in Italy: applications from October 8, 2025

MIMIT activates a non-repayable grant for participation in trade fairs in Italy, with applications opening on October 8, 2025. The measure supports commercial promotion on the domestic market.

Typically eligible expenses: area fees, exhibition stands and technical services, sample transport and logistics, communication materials/activities and any related consultancy services. Aid percentages and ceilings vary by size, sector and location; frequent priority is given to SMEs, start-ups and first-time exhibitors. To prepare:

• Define a trade fair calendar and select events consistent with 2025–2026 objectives.
• Build an eligible budget with separate items and comparable quotes.
• Verify cumulability (de minimis) and alignment with other aids.
• Organize reporting and effectiveness KPIs (leads, appointments, offers, pipeline at 3–6–12 months).

Conclusions

The innovations of Law 108/2025 require coordinated actions: realigning VAT processes, designing loss carryforwards with criteria and documents, orchestrating hiring plans for the maxi-deduction, evaluating CPB with numbers and preparing trade fair grant projects in time. The Gruppo AQ team can prepare an operational check and an executive plan for the next 90 days, with priorities, risks and KPIs, to transform the regulation into measurable results.

Did you know that…?

• The reverse charge is based on Art. 17 of DPR 633/1972 and is modulated to counter fraud in supply chains with multiple subjects. Current text: DPR 633/1972 – IVA.
• The split payment is governed by Art. 17‑ter of DPR 633/1972; the EU has authorized Italy to maintain it until June 30, 2026 with specific conditions: Implementing Decision (EU) 2023/1553.
• The official text of Law 108/2025 can be consulted in O.J. no. 177 of 08/01/2025: Official Journal – General Series 177/2025.
• The coordinated text of Law 108/2025 is also available on Normattiva: Normattiva – Law August 1, 2025, no. 108.
• The notices for trade fair grants are published in the Incentives section of MIMIT: Interventions in favor of the exhibition sector.

FAQ

• Who is most exposed to the new rules on losses?
  Companies planning contributions, mergers or spin-offs: vitality tests, equity capacity verification and a coordinated calendar of appraisals, resolutions and accounting effective dates are needed.
• Reverse charge in logistics: do I have to change invoicing immediately?
  Upon publication of the detailed implementing acts: map contracts, update VAT codes and test flows before go-live.
• Does the stop to split payment apply to all PAs?
  No. The disapplication concerns specific counterparties; towards the PA, split payment remains in the cases provided for. A timely check of customer master data is required.
• Maxi-deduction: how is the employment increase measured?
  On a net basis; subsidiaries count, not associated companies. Baselines and transformations must be tracked in an HR-Tax dashboard.
• 2025–2026 CPB: how do I decide if it is worth it?
  Comparison between standard taxes and settled taxes, sensitivity on margins and analysis of installments and covenants. The choice must be documented.
• Trade fair grant: what documents are needed?
  Event calendar, budget/quotes, DURC, declarations on accumulations; for reporting: invoices, receipts and evidence of activities.

Sources

• Official Journal – General Series no. 177 of 08/01/2025
• Normattiva – Law August 1, 2025, no. 108 (conversion of D.L. 84/2025)
• Normattiva – DPR October 26, 1972, no. 633 (VAT) – current text (Artt. 17 and 17‑ter)
• EUR‑Lex – Implementing Decision (EU) 2023/1553 on split payment
• MIMIT – Interventions in favor of the exhibition sector