«The amount of receivables is equal to a total of 99.4 billion euros, of which 52.1 billion referable to the Superbonus and 24.8 billion to the facades bonus. I leave it up to you to evaluate what interventions the Government could have adopted using these resources, such as for example the overall reduction of the tax and social security wedge by about 10 percentage points». Economy Minister Giancarlo Giorgetti said this during the question time, replying to a request relating to the amount of stranded tax credits linked to the building incentive, the workhorse of the 5 Star Movement born during the second Conte government.
In short, the minister once again does not hide his aversion to this measure. However, it is a fact that, to date, there are thousands of businesses and households who risk serious consequences if the situation of tax credits is not resolved. And so a solution must be found: «Specific amendments are being prepared to article 9 of the aforementioned decree-law which will allow greater circulation of securities among qualified intermediaries and which will guarantee so-called bridging loans for construction companies which are in possession of such credits» explained the Economy Minister.
Giorgetti and the question time
And precisely on the question of credits, Giorgetti then pointed out that «As regards the request to know what the amount of the problem tax credits is, I have the obligation to specify that the Revenue Agency knows the amount of the credits, but is unable to establish the reasons on the basis of which the taxpayers have voluntarily decided to keep the credits in their availability (for example, for the purpose of subsequent use in compensation using the F24 model), or if they are unable to use them or transfer them to other subjects,” explained the minister.
The amendment presented
The amendment presented by the Government on article 9 of the Aid quater Decree with the modifications on the superbonus concerns the issue of the release of credits and, in particular, the extension from two to three times of the further possibility of transfer in favor of subjects “qualified” (banks and financial intermediaries). This possibility also applies to tax credits subject to communication of the credit transfer or invoice discount already communicated to the Revenue Agency. In order to help the liquidity of construction companies, the possibility is also envisaged for Sace to grant guarantees to banks and other entities authorized to provide credit for loans aimed at meeting liquidity needs. The extent of any receivables accrued by the company as of 25 November can be taken into consideration by the bank for the assessment of creditworthiness and the contractual conditions of the loan.