Superbonus, definitive stop to the transfer of credits. All communications by April 4th. Here’s the news

MILAN – More news regarding tax incentives for construction works and the transfer of accrued credits. Let’s see what the Council of Ministers dealt with and, while waiting for the official text of new surprise decree from Minister Giorgetti to stop the bleeding of public finances, what are the effects?

The stop to transfer and discount on the invoice

The first weapon deployed by Palazzo Chigi, according to the letter of the post-Cdm press release, concerns “the elimination, for interventions subsequent to the entry into force of the new rules, of the residual cases for which the exercise of the options is still in force for the so-called discount on the invoice or for the transfer of credit in place of deductions”.

The government had already intervened on several occasions regarding the possibility of doing the work for free by transferring the deduction to the company or of monetising the credit – the real elements that caused the construction bubble to explode. In particular, col Transfers decree of February 2023 which had stopped the options for the works after 17 February of that year. The Superbonus remained transferable or discountable in the event of presentation of Cilas and adoption of the meeting resolution for the works by 16 February 2023 or if it had been presented the request for the acquisition of the qualification for demolition and reconstruction interventions. The meshes were also left open for options Third sector, Iacp (social housing) and reconstruction interventions in the earthquake areas. This should now close.

Beyond 110%, the transfer or discount on the invoice remained possible for other types of interventions. The main reference here is to 75% architectural barrier bonus. Here another measure intervened, the Save expenses decree (or Superbonus, whatever you prefer) at the beginning of the year. This, in addition to reducing the cases of incentives to 75%, prohibited options for barrier removal starting January 1, 2024. With a few exceptions: the works of condominiums on common parts or on villas and units in multi-family buildings that were the main residence and with the owner’s income within 15 thousand euros.

Evidently in the government’s estimates this tightening was not enough and hence the new stop which, according to what is known so far, should only concern interventions started after the publication of the provision in the Official Journal, the technical details of which will be fundamental.

The very narrow path of Italian public accounts

by Giuseppe Colombo

March 11, 2024

All communications by April 4th

Another stringent intervention, and especially useful for the purposes of writing the Economics and Finance Document, is that on the so-called remission to performing status. This is where the calendar comes in handy. With a provision signed by Ruffini, the director of the Revenue Agency, on February 21st he had become fixated on the April 4 the deadline within which to communicate the discount on the invoice or the first assignment of the credit accrued for expenses incurred in 2023or for the remaining unused installments of the deductions relating to expenses incurred in 2020, 2021 and 2022.

A date, which was also subject to extension precisely with that provision, which however provides interested parties with an escape route: through the remission in bonis you can in fact regularize it by recovering the documentation until the following 15th Octoberpaying one modest fine of 250 euros. The problem is that by doing so the State would not have a clear vision of how much the amount of accrued tax credits is still growing, which however Enea data from February has broken through the wall of 114 billion in costs for public coffers.

In fact, Palazzo Chigi says: “In order to acquire, upon the ordinary expiry of the deadline set for the aforementioned benefits (4 April 2024), the total amount of options exercised and assignments stipulatedthe application of the institution of remission in bonis which would have allowed, with the payment of a minimal sanction, the communication functional to the use of the benefits until 15 October 2024 is excluded”.

Superbonus and Pnrr, Brussels controls on 60 thousand construction sites

edited by Economics Editorial Staff

March 24, 2024

Advance communication of the works

Always to keep expenses under control, ed avoid jokes like the one that projected the 2023 deficit/GDP from the 5.3% expected by Nadef to the 7.2% set by Istat (but we could still go up in the Def numbers, given that construction site data continues to flow), the decree provides for “the introduction of measures aimed at acquiring more information relating to the implementation of eligible interventions”. In essence, as he explained Giorgetti, for all incentivized jobs there will be a “preventive communication when the work or rather the planning begins, in order to have preventive monitoring of the phenomenon and not when the invoices are uploaded to the Revenue Agency platform”.

A novelty followed by one sanction: “The failure to transmit this information, if relating to interventions already started, determines the application of a administrative sanction of 10,000 euros, while for new interventions the forfeiture of the tax relief is foreseen”.

First settle the accounts with the tax authorities

Another novelty concerns those who have debts with the Treasury and on the other hand accrue credits with building bonuses, which remain frozen until they are up to date with the payments due. “The use of construction bonuses even by individuals who have debts towards the treasury is prohibited”. In essence, “as already provided for in our legislation in other cases, the usability of tax credits relating to construction bonuses is suspended, up to the amount due, in the presence of registrations in the register or loads entrusted to the collection agents related state taxes as well as deeds issued by the Revenue Agency for amounts totaling more than 10,000 euros, if the payment terms have expired and provided that no suspension measures are in place or no installment plans are in progress for which no forfeiture has occurred ”. We need to see in the final text whether the mechanism can be applied like this: if a person has a registered role for 15 thousand euros (i.e. a debt ascertained by the tax authorities) and accrues 20 thousand euros of deductions, these will drop to 5 thousand euros and the debt with the tax authorities will be like this welded.

News also for businesses

Businesses are also affected by the new credit transfers. To prevent fraud regarding the transfer of Ace credits (help which disappeared with the tax reform) the possibility of transfer is reduced to one and the joint and several liability of the transferee is extended to cases of complicity in the violation. The expansion of preventive controls regarding suspicious transactions is expected. Companies will therefore also have to communicate in advance the transfers of credits, such as those for the innovative investments Transition 4.0 (which is already foreseen by the new version 5.0).