Italy: Il Trasferimento Della Posizione IVA Del Fondo Immobiliare In Ipotesi Di Cambio Di SGR

Last Updated: 12 July 2019
Article by Luca Di Nunzio

Desta interesse la recente Risposta n. 199 pubblicata dall’Agenzia delle Entrate il 20 giugno 2019 perché, al di là della specifica fattispecie sulla quale dirime il dubbio interpretativo, pone un principio generale secondo il quale, in caso di mutamento del gestore (“SGR”) di un fondo immobiliare, la posizione IVA specificatamente riferibile a quel dato fondo si trasferisce dalla precedente SGR alla nuova.

Il caso trattato nella Risposta n. 199 è quello di un fondo immobiliare che aveva pagato una fattura – con applicazione dell’aliquota IVA ordinaria 22% – a una società che si era occupata di taluni lavori di ristrutturazione edilizia. Successivamente, la società di ristrutturazione si era avveduta di un errore, avendo applicato l’aliquota ordinaria anziché quella ridotta (10%). Medio tempore, la gestione del fondo immobiliare veniva trasferita a una nuova SGR. Di talché il dubbio interpretativo sottoposto all’attenzione dell’Agenzia delle Entrate era se la nota di credito dovesse essere emessa nei confronti della nuova SGR o della precedente.

L’Agenzia delle Entrate fonda la propria risposta sul dettato dell’art. 36, comma 4, D.Lgs. 24 febbraio 1998, n. 58 (“TUF”), a mente del quale «Ciascun fondo comune di investimento […]costituisce patrimonio autonomo, distinto a tutti gli effetti dal patrimonio della società di gestione del risparmio e da quello di ciascun partecipante, nonché da ogni altro patrimonio gestito dalla medesima società; delle obbligazioni contratte per conto del fondo, la Sgr risponde esclusivamente con il patrimonio del fondo medesimo».

Invero, la separazione tra obbligazioni riferibili alla SGR e al fondo, per come desumibile dall’art. 36 TUF, trova un suo corollario anche nella disciplina IVA. Infatti, l’art. 8 del D.L. 25 settembre 2001, n. 351, conv. in L. L. 23 novembre 2001, n. 410, dispone «La società di gestione è soggetto passivo ai fini dell’imposta sul valore aggiunto per le cessioni di beni e le prestazioni di servizi relative alle operazioni dei fondi immobiliari da essa istituiti. L’imposta sul valore aggiunto è determinata e liquidata separatamente dall’imposta dovuta per l’attività della società […]ed è applicata distintamente per ciascun fondo [enfasi nostra]».

Da questo quadro normativo emerge, come peraltro confermato in passate occasioni dall’Agenzia delle Entrate[1] che ogni SGR è tenuta a presentare una dichiarazione IVA “unica”, per sé e per i singoli fondi da essa gestiti, con l’accortezza di indicare separatamente (utilizzando distinti moduli che compongono la complessiva dichiarazione IVA) la posizione IVA (creditoria o debitoria) per sé e per ciascun fondo. Ciò non toglie che la liquidazione finale altro non è che il risultato algebrico di tutte le posizioni IVA che fanno capo alla SGR (ossia la propria posizione e quelle distinte dei singoli fondi) ma, d’altro canto, le singole posizioni IVA restano formalmente (e sostanzialmente) separate.

Stante così la disciplina che governa l’IVA nello schema SGR-fondo immobiliare, l’Agenzia conclude nel senso che la nota di credito riferibile a una fattura emessa al tempo in cui il gestore era la prima SGR deve essere indirizzata alla “nuova” SGR. Questa conclusione poggia sulla circostanza per cui, secondo l’Agenzia delle Entrate, «nell’ipotesi di sostituzione nella gestione di un fondo la SGR subentrante assume rispetto al fondo la medesima posizione della SGR sostituita, in quanto vi è continuità tra il soggetto subentrante ed il soggetto sostituito [enfasi nostra]». Posto che l’Agenzia afferma il trasferimento della posizione IVA da una SGR a un’altra, vale anche notare che l’interpretazione dell’art. 8, D.L. 351/2001, laddove identifica il soggetto passivo IVA nella SGR che ha “istituito” il fondo immobiliare, porta a concludere che per “soggetto passivo IVA” si debba intendere la SGR che “gestisce” il fondo, ancorché esso non sia stato formalmente istituito da quel dato (nuovo) gestore.

Il brano della Risposta n. 199 testé richiamato impone di valutare altre conseguenze, per certi versi ancora più rilevanti rispetto al tema del corretto destinatario della nota di credito. Se il principio espresso dall’Agenzia delle Entrate – come sembra – ha una portata generale, allora si deve concludere che in tutti i casi in cui si verifichi una sostituzione del gestore di un fondo immobiliare viene trasmessa alla nuova SGR tutta la posizione IVA riferibile a quel dato fondo (globalmente intesa).

Da tale conclusione discende l’ulteriore conseguenza per cui se un fondo immobiliare, nella propria “contabilità IVA”, separata da quella della SGR che lo gestisce, evidenziasse un debito o un credito IVA, quest’ultimo verrebbe trasferito in capo alla nuova SGR, la quale sarà titolata, ex art. 8, D.L. 351/2001, ad esempio, a compensarlo con altri debiti IVA propri o di altri fondi da essa stessa gestiti o a chiederlo a rimborso.

Ma non solo. Se il principio applicabile è quello della “continuità IVA” da una SGR ad un’altra, l’ulteriore conseguenza sarebbe quella di trasferire – appunto, senza soluzione di continuità – alla nuova SGR anche tutto il sistema delle detrazioni IVA lungo il periodo di osservazione decennale previsto dall’art. 19-bis2, comma 8, del D.P.R. 26 ottobre 1972, n. 633. Il periodo decennale non verrebbe interrotto per effetto del cambio di SGR, ma proseguirebbe in capo alla nuova.

Questi primi ragionamenti “a caldo” fanno anche riflettere sulla delicatezza della clausola che governa i profili fiscali all’interno del più ampio contratto che disciplina il cambio di gestione. Sarebbe dunque necessario valutare attentamente, anche alla luce delle risultanze derivanti dalla fase di due diligence, come suddividere le responsabilità connesse ad una ipotetica “mala gestio” dell’IVA riferibile al fondo tra la passata e futura gestione.

1 Circolare 8 agosto 2003, n. 47/E, par. 5.1 e Circolare 15 febbraio 2012, n. 2/E, par. 8. ove si precisa che «la società di gestione, in virtù del principio dell’unicità del soggetto passivo d’imposta, deve presentare un’unica dichiarazione annuale, compilando un unico frontespizio, e tanti moduli quante sono le contabilità da essa istituite (ovvero un modulo per le proprie operazioni, ed un modulo per ciascun fondo gestito)».

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