Does your company own a property no longer used for operations? A leased building, an apartment, or an empty warehouse weighing on your balance sheet? The 2026 Budget Law (Law 199/2025) has reopened a rare tax window: with thefacilitated assignment of assets to shareholders, it is possible to transfer those assets from the company's assets by paying a reduced substitute tax of 8%, in lieu of ordinary taxation. The deadline is strict—September 30, 2026—and the notarial deed must be executed by that date. Anyone who doesn't know about this opportunity risks missing it for years to come.
What is the subsidized allocation of assets to members introduced by the 2026 Budget Law?
The measure is introduced by Article 1, paragraphs 35-41 of the 2026 Budget Law (Law 199/2025) and replicates, with some adjustments, the preferential regimes already proposed in the 2016, 2017, and 2025 editions. The legislator pursues a concrete objective: to reduce corporate assets swollen by real estate no longer needed by the company, encouraging the reallocation of those assets directly to the individual shareholders and simplifying the company structure.
In practice, the company transfers an asset—a non-capital property or a movable asset registered in public registers—to the shareholder, paying a substitute tax on the capital gains instead of the more onerous ordinary IRES rate. The shareholder receives the asset without further immediate direct taxation. The result is a mutually beneficial redistribution of assets, formalized through a notarial deed to be executed by the due date.
Who can access the subsidized allocation of assets to members: the requirements
Not all companies are eligible. The law clearly defines the operational boundaries.
Eligible entities: Snc, Sas, Srl, SpA, SapA. This category also includes companies whose sole or primary purpose is the management of non-capital goods, provided they transform into simple partnerships by September 30, 2026.
Eligible assets: non-instrumental properties (apartments, leased or unused real estate, land) and movable property registered in public registers not used as instrumental to the business's operations. Properties used directly in the business are excluded.
Membership requirement: Beneficiary members must be registered in the members' register as of September 30, 2025, or by January 31, 2026, by virtue of a transfer instrument with a certified date prior to October 1, 2025. This is a safeguard against abuse: it is not possible to join the company in 2026 for the sole purpose of benefiting from the concession.
Substitute tax: how much do you really pay?
This is where the real benefit is measured. The substitute tax is calculated on the difference between the value of the asset and the tax-deductible cost. The rates set by the 2026 Budget Law are:
- 8% for ordinary operating companies
- 10,5% for "shell" companies (not operating in at least two of the three previous tax periods)
- 13% on the tax-deferred reserves cancelled as a result of the operation
A strategic element worth noting: for properties, the company can choose the cadastral value as the basis for calculation, rather than the market value. In many cases, this choice significantly reduces the overall tax burden and is one of the key points to focus the preliminary analysis on.
Regarding indirect taxes, the registration tax has been halved to 1.5% (instead of 3%), while the mortgage and land registry taxes will be applied at a fixed rate of €200 each.
The substitute tax is paid in two installments: 60% by September 30, 2026 , and 40% by November 30, 2026, using the F24 form.
How to plan your trade before the deadline
The most useful advice we can give is: don't wait until summer. Each facilitated assignment process requires an investigation phase that can take weeks—including analyzing the corporate structure, verifying objective and subjective requirements, comparing the fair value and the cadastral value, preliminary shareholders' resolution, and coordinating with the accountant to classify the assets.
At our firm, we support entrepreneurs and partners through every stage of this process: from the initial feasibility analysis to the signing of the notarial deed. For a complete overview of the services we offer to businesses and corporations, please visit:.
The transaction also offers significant prospective advantages. The shareholder receiving the property will be able to apply the flat-rate tax on future rentals, where permitted by the property type. Any subsequent sale will be outside the IRES regime, potentially resulting in more favorable tax treatment. Furthermore, from the perspective of generational transition, having the property registered directly in the name of the individual shareholder greatly simplifies the future succession process.
Why this deadline is not like the others
September 30, 2026, is not far off. Notary offices' schedules fill up during the summer months, deadlines aren't squeezed at the last minute, and the assembly resolution must precede the deed. Those who have already taken advantage of previous editions of this benefit know well that advance planning is the true key to success.
If you're still unsure about whether this is a viable option for your specific situation, the first step isn't to decide: it's to do the hard calculations, using your company's real numbers.
Do you have real estate or business assets that could benefit from this window?
September 30, 2026, is the deadline you can't ignore, and the remaining months are fewer than they seem. In our firm, we analyze your current situation—corporate structure, asset type, cadastral and market value, and shareholders' positions—and offer you a concrete estimate of your financial advantage. Contact us at 06.807.0943 or fill out the form below the article.
