Coming over 1 billion VAT refunds for businesses. The good news comes from the Revenue Agency. The VAT credits due to over 4.300 companies will be made available by the Ministry of Economy and Finance in the coming weeks. This is an amount of approximately 1,2 billion euros. With this new injection of liquidity, the total sum repaid in these first months of 2013 to businesses, artisans and professionals will reach a good 2,5 billion euros.
Antonio Tajani and Olli Rehn, vice presidents of the EU Commission, a few days ago gave Italy the formal green light for the payment of the public administration's outstanding debts through the issue of new government bonds. The European Union has recognized that, if the Italian State uses this method to pay debts with companies, the infringement procedure will not be triggered for having breached the deficit limit. It is estimated that the credits of companies to the Public Administration are between 70 and 100 billion euros (with average payment times around 180 days).
