In this phase of crisis, secured loans they are not the only way to increase the liquidity of companies: the State must also accelerate the payment of commercial debts of public administrations. This is one of the proposals contained in the opinion that Assonime sent to the VI and X Commissions of the Chamber regarding the Liquidity decree .
From a regulatory point of view, the Italian association of joint-stock companies points out that the payment of commercial debts would not encounter any obstacles from the European authorities, as it would not be state aid, but of a simple obligation towards suppliers.
Consequently, according to Assonime it would be necessary to complete the package of measures envisaged by the Liquidity decree with a new intervention. The Government should therefore include in the April decree a series of measures that facilitate the payment of overdue and certified Pa debts, reducing the bureaucratic obstacles that currently slow down companies' access to liquidity.
For example, Assonime continues, the Executive could intervene on the fiscal front to favor compensation. In particular, it could allow companies to subtract from their tax debts all credits boasted to the Public Administration: therefore not only the fiscal ones, but also the commercial ones.
Finally, the Association suggests action on the VAT front. In this regard, even the Forum on tax administration (Fta) of the OECD has recently published a document in which it invites the States to speed up VAT refunds, to make the recovery of the tax on unpaid credits more flexible and to temporarily extend the optional cash VAT settlement regime ( which makes it possible to defer the collectability and deductibility of VAT at the moment in which the considerations are collected and the supplies are paid).
In reality, Italy is among the few countries that have introduced this regime, but only for companies with a turnover of no more than 2 million euros. According to Assonime, "it would be necessary to evaluate whether this regime could be extended to larger companies, in agreement with the European institutions".
