A shock measure to revive private construction: who uses tax deductions on renovations ed energy efficiency will see theVAT collapse by 10 to 4%. The novelty was included by the Environment Committee of the Chamber in the law converting the Sblocca Italia decree, which arrived in the Chamber yesterday.
The incentive is added to the Irpef deduction of 50% on building renovations, furniture and large appliances and to the Irpef and Ires deduction of 65% on energy saving works, extended to 2015 by the Stability law.
At the same time, to compensate for the new reduction, lVAT on new buildings of prime homes sold directly by businesses will be lifted by 4 to 10%.
However, the Research Department of the Chamber points out that the 4% rate is "ultra-reduced, adopted with a specific derogation at the time of issuing the first VAT directive for a predefined table of goods and services, and therefore cannot be modified: European legislation allows Member States to adopt two reduced rates with respect to the ordinary rate, in any case not lower than 5%. The Italian State has adopted a single reduced rate, at 10%. It would therefore be necessary to evaluate the Community compatibility of the rate introduced by the law”.
Another new incentive concerns the real estate market. The text landed in the House also provides for extend the personal income tax deduction by 20% on the expenditure for the purchase of new or renovated homes, hitherto limited to homes to be rented, including properties unsold by businesses.
As for the rule that prolongs motorway concessions on the basis of new economic-financial plans, recently targeted by the Transport Authority and the Antitrust, the European Union has opened a Eu-Pilot infringement pre-procedure, asking the Italian authorities to provide some insights .
The times for the approval of the decree are now very tight – the expiry date is set for 11 November – so it now seems obvious that the Government will decide to put its trust in this package of measures as well.
The timetable for parliamentary work has so far been respected with great difficulty. After several night sittings, voting continued until 5 in the morning on Friday to overcome the obstructionism of the 30-star Movement, which was later joined by the League.
