The President of the Republic Sergio Mattarella has signed the decree to stop the transfer of credit on the Superbonus 110%. The “Decree-law containing urgent measures regarding the assignment of credits referred to in article 121 of the decree-law of 19 May 2020, n. 34, converted, with amendments, by law No. 77 of 17 July 2020″ therefore awaits publication shortly in Official Gazette. Together with the relative Ddl of conversion. The decree launched by the Meloni government therefore provides for the stop to the discount on the invoice. And it was defended yesterday by Economy Minister Giancarlo Giorgetti. Who explained how the incentive cost 2,000 euros each for each Italian citizen. But what happens with the stop to the transfer of Superbonus credits? What changes for those who presented the Sworn Commencement Notice (Cila)? And who will want to do work after the decree?
II decree
Il decree on the Superbonus of the Meloni government is made up of only two articles. The first article certifies the total stop at a discount on the invoice and credit transfer. This simply means that from now on for new building projects (not those already underway) only the way of deducting the tax remains. The law also bans public administrations from purchasing credits deriving from building bonuses. A stop that stops a phenomenon that had recently taken hold, but which had had a certain following. Precisely these purchases, as he highlighted Eurostat, “would have a direct impact on the public debt”, according to what Giorgetti explained. The decree also addresses the issue of joint liability of the assignees. Which is excluded for those in possession of all the documentation relating to the works. This is to eliminate uncertainties. which have held back many intermediaries from absorbing these credits.
Sworn Commencement Notice
The minister explained that the intervention was necessary “to block the effects of a wicked policy”. Second Via XX Settembre the invoice discounts already granted amount to 105 billion euros. While in March they should arrive at 110. Banks no longer have the fiscal space to buy new credit. As far as condominiums are concerned, for all those who have adopted the assembly resolution on the execution of the works and have presented the Sworn Commencement Notice (Cila) they will still be able to transfer the tax credit to the company. And then carry out the works without cost. But the safe conduct must take into account the stakes of last November. Which gave the deadline of 25 of the month for the resolution of the work in the assembly. Even for villas, the government decree saves the discount on the invoice only for those who have presented the Cila.
The cottages and problem loans
For single-family homes the bonus has also dropped since 110 al 90%. And only families with an income not exceeding 15 thousand euros. To be calculated with the family quotient mechanism. The decree also attempts to solve the problem of non-performing loans. That is, those that companies are no longer able to sell to banks. The idea of transferring credits to their client companies has found a stop in the Cassation. Il Palazzaccio has extended the seizure of credits deriving from fraud also to buyers in good faith. And many businesses have tasted the risk of getting involved. Now whoever buys tax credits will not be jointly liable with whoever sold it. Always if he proves that he has the residential building permit of the interventions in his possession. Along with photographic evidence of the realization of the works.
Energy requalification and seismic risk
Finally, the government repealed the rules which provided for the possibility of assigning claims relating to:
- expenses for energy redevelopment interventions and major first level renovation interventions (energy performance) for the common parts of condominium buildings, with an amount of the works equal to or greater than 200.000 euro;
- expenses for interventions to reduce the seismic risk carried out on the common parts of condominium buildings or carried out in the municipalities falling within the areas classified seismic risk 1, 2 and 3through the demolition and reconstruction of entire buildings, carried out by real estate construction or renovation companies, which provide for the subsequent sale of the property.
A ban has also been introduced for public administrations to be assignees of tax credits relating to tax incentives accrued with these types of intervention. The mere lack of possession of the documentation does not constitute grounds for joint liability for willful misconduct or gross negligence of the transferee. Which can provide by any means proof of its diligence or non-gravity of negligence.
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