The Advertising Bonus 2023 is a measure to support businesses, self-employed people and noncommercial entities that intend to invest in advertising campaigns. The update established by Energy Decree no. 17/2022, which allowed its renewal for the current year as well, includes several new features, including a 75 percent tax credit for incremental advertising investments in 2023. In this article, therefore, we will go over the main changes from past years and the deadlines for accessing them.
Advertising bonus 2023: what is it?
As we mentioned, the Advertising Bonus is a measure introduced by the Italian government in 2020 to support businesses and promote the country’s economic recovery. It consists of a tax break that provides an IRPEF deduction of expenses incurred by businesses for advertising in the media.
The goal of the Advertising Bonus is to incentivize businesses to invest in communication in order to increase their visibility and promote the sale of their products or services. The Bonus has also been confirmed for 2023, through Energy Decree no. 17/2022, but has some changes from past editions.
Advertising bonus 2023: what’s new
The main new feature of the Advertising Bonus 2023 is that it can only be used for investments in print media, newspapers or periodicals, including online. In addition, the Bonus is granted as a tax credit equal to 75 percent of the incremental value of investments in 2023 compared to 2022.
That is, if in 2022 a company invested €10,000 in the daily or periodical press (including advertising budgets for publishers’ web portals) and in 2023 it intends to invest €20,000, it will have a tax credit of €7,500 and will therefore pay only €2,500 for the additional €10,000 invested. In this way, businesses can increase their advertising investment and at the same time save on costs, thanks to the 75% tax deduction.
This news represents an additional opportunity for businesses that wish to invest in print and periodicals, both in print and online formats, increasing their visibility and reaching a wider and more diverse audience. However, it is important to keep in mind that the Advertising Bonus is granted only for incremental investments from the previous year. As a result, enterprises will need to carefully plan their investment strategies in order to benefit from the measure.
The expenditure ceiling for 2023 is 30 million euros , and the resources will be allocated among beneficiaries in proportion to the credit they are entitled to in case of lack of funds compared to the applications submitted.
How to access the Bonus?
To access the Advertising Bonus 2023, companies will have to submit an application through the dedicated digital platform, which will be made available by the Ministry of Economic Development (MISE). It is important to note that the application deadline is March 30, 2023.
The platform will make it possible to submit the application and manage the entire procedure, simplifying the application process and reducing the waiting time for approval.
The application should contain all information about the applicant enterprise, including tax identification number, VAT number, registered office, industry, and description of the goods and services covered by the investment. In addition, documentation proving the investments made (invoices, tax receipts and payment receipts) should also be attached.
It is important to remember that the Advertising Bonus 2023 is intended for businesses that engage in commercial activities, thus excluding professionals and artisans.
Why apply for the Advertising Bonus in 2023
As we have seen, the measure includes some changes from past years. In any case, the Advertising Bonus represents an opportunity for businesses to invest in their visibility and communication, improving their market position and acquiring new customers. If interested, therefore, it becomes very important to take action as soon as possible to meet the deadlines specified by the Energy Decree.