Following CDT’s proposal to adopt the "Force Majeure Certification" of March 11, 2020, our Firm has presented a new proposal to the Italian Government. The new proposal in particular protects all retail business companies, whose stores have been closed in compliance with the DPCM of March 11, 2020.
CDT Legal, in fact, has a notable expertise in the fashion business and retail business in general, as it has been assisting several brands in their Italian and international development for many years. Therefore, Casucci-Di Tardo & Associati has promptly submitted to the Italian Government the request for the extension of the tax credit (60% of the rents for March 2020) provided for by the aforementioned Art. 65, also to the stores conducted pursuant to “Contratti di Affitto di Ramo d’Azienda”, where the business actually carried out coincides with the business eligible for the abovementioned tax credit according to the current wording of Art. 65 (i.e. solely the leases of stores governed by “Contratti di Locazione d’Immobile”, with the exclusion instead of those governed by the other type of lease commonly adopted in Italy).
As the current rule is written, in fact, all companies that operate stores in Shopping Centers, Outlets and the like (or however operate any stores pursuant to “Contratti di Affitto di Ramo d’Azienda”, instead of “Contratti di Locazione d’Immobile”) would lose the benefit of the tax credit, although the purpose of the measure is clearly to protect all shopkeepers closed according to the DPCM of March 11, 2020 (without the different form of the agreement being relevant as a ground which may justify a different and worse treatment).
Please find attached the communication that explains CDT Legal’s proposal.