Goodbye to the transfer of tax credits and the discount on the invoice. For existing ones, starting from the Superbonus, it will no longer be possible to transfer them to Regions and local bodies. All the details on the decree law approved by the council of ministers

The era of the transfer of tax credits and the discount on the invoice is over. For existing ones, starting from the Superbonus, it will no longer be possible to transfer them to Regions and local bodies.

This is the gist of the provision approved by the government yesterday in the council of ministers.

But how and why was this decree law born, which was not envisaged by the insiders yesterday in the council of ministers?

THE DRAGIAN WORDS OF GIORGETTI ABOUT THE SUPERBONUS

The Minister of Economy, to defend the law that blocks the subsidies of the building superbonus, reads at a press conference a statement that former Prime Minister Mario Draghi ("A person I have a great deal of respect for") made in the Senate on 22 July, at the sunset of his political experience: «The problem is not the superbonus. The problem – Draghi said – are the transfer mechanisms that have been designed. Whoever designed those mechanisms without discrimination and without discernment is he, or she, or they are the culprits of this situation for which thousands of companies are waiting for credits».

THE NUMBERS ON THE SUPERBONUS THAT WORRY THE GOVERNMENT

There is a figure, according to the Meloni government, which is bending the resistance: 110 billion. It is the amount of tax credits. Giorgetti puts it on the table and repeats: "We risk blowing up the state coffers". He is supported by Guido Crosetto, the defense minister, who recalls the "possible consequences on the financial markets". During the council of ministers, according to journalistic reconstructions, everyone has the precise sensation of carrying out an unpopular act. And so the premier's indication is to explain well that "the fault of this situation is not ours but that of those who preceded us". A reference to the 5Stelle and Giuseppe Conte, to those "insane policies" of which Giorgetti will speak openly in front of journalists.

HERE ARE THE GOVERNMENT'S DECISIONS ON THE SUPERBONUS, ALL THE DETAILS ON THE DECREE

But what did the government decide? Goodbye to the transfer of tax credits and the discount on the invoice. For existing ones, starting from the Superbonus, it will no longer be possible to transfer them to Regions and local bodies. However, the rules on the joint and several liability of the supplier who applied the discount and of the transferees are modified, in order to restart the circuit of financial intermediaries. Finally, underlines the newspaper Il Sole 24 ore , for the bonuses that will accrue from now on there will no longer be the possibility of obtaining the discount on the invoice or of transferring the credits. Only the deduction remains in the tax return.

THE GOVERNMENT'S MIRES WITH THE SUPERBONUS DECREE

The object is not the bonuses as such, which remain in force, Giorgetti underlined, but the transfer of the relative credit. "From the entry into force of the decree – reads the press release – with the exception of specific derogations for operations already in progress, it will no longer be possible for subjects who make such expenses to opt for the so-called "invoice discount" or for the transfer of credit. Furthermore, the first assignment of credits relating to specific categories of expenses will no longer be permitted; however, the possibility of deduction remains unchanged.

BANKS FILE

Giorgetti underlined that the decree, by solving "the regulatory uncertainty" which has so far effectively blocked the acquisition of loans by financial intermediaries, aims to get the market moving again. On the contrary, he added, with the limitation of the liability of the assignees of the credits, «there are no alibis. I also say this to the banking system: we must act in concert to resolve this bubo". The credit account linked to the Superbonus has reached the figure of 110 billion, said Giorgetti.

START MAGAZINE'S INSIGHTS ON THE SUPERBONUS:

I'll explain how and why the government intervened on the Superbonus. Zanetti's analysis

There's an elephant in the government room: tax credits. Here because

Here's how Eurostat debunks the alarms of the Accounting Office on the Superbonus. Liturri's analysis

All the flaws of the Superbonus 110%. Reuters reports

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This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/superbonus-che-cosa-ha-deciso-il-governo/ on Fri, 17 Feb 2023 07:22:01 +0000.