Football finance expert explains importance of July 2 deadline in Milan’s pursuit of signings | OneFootball

AC Milan face a deadline within the mercato in terms of registering new signings because of the rules of the Growth Decree, it has been revealed.

Football finance expert Felice Raimondo reports how those who want to take advantage of the Growth Decree for the current fiscal year must sign players by July 2, because otherwise they would not qualify for the tax relief for the 2022-23 season.

As stated by the regulation, the tax period for a normal person coincides with the calendar year and they must spend 183 days in Italy to qualify for the benefits. Therefore a person (or player in this case) who has moved to Italy after July 2 (after July 1 in the case of a leap year) cannot be considered a resident for most of that full fiscal year.

Any team that buys a player after July 2 for that reason will not be able to count on the benefits of the decree for that campaign, so if Milan want to take advantage of the Growth Decree for Hakim Ziyech or any other new signings for the 2022-23 season they must get them signed by July 2, otherwise the benefits will not apply until 2023.

There is a clarification: the following year does not mean the following season (2023-24) but rather the team will start enjoying the benefits starting from 1 January 2023. Therefore, six months of the season will be without the tax relief.

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