With the company Aid Bis decree, definitively approved by the House on Thursday, the government made a series of changes to the Superbonus 110% which allow banks to start buying tax credits again related to the relief. The intervention was eagerly awaited, because – according to the data provided in May by the Treasury during a parliamentary question – the files blocked pending the go-ahead from the credit institutions are worth 5,2 billion euro.
The amount should be considered updated, because the question of the Superbonus 110% mainly concerns the two main Italian banks, Unicredit and Intesa Sanpaolo, which stopped buying deductions as early as April, limiting themselves to disposing of the already approved practices since then.
Superbonus 110%: from the Sostegni ter decree to the Aiuti bis
The decision to stop operations came due to a provision of the Sostegni Ter decree, which - in an attempt to reduce fraud - had prevented the circulation of benefits deriving from discounts on invoices or sales, effectively limiting the purchases of intermediaries to effective tax capacity, and therefore only to taxes that allow compensation in the following years.
The Aiuti bis decree could resolve this stalemate, because it contains a provision that limits the liability jointly and severally for the transfer of "sworn" tax credits in cases of willful misconduct or gross negligence.
The reaction of Abi and Ance
"The approval of the amendment to the Aiuti bis decree law on the subject of credit assignment is a step forward and can help restart the bonus market - commented in a joint note Antonio Patuelli and Giovanni Sabatini, respectively president and general manager of the 'Italian Banking Association – It is now important that l'Agenzia delle Entrate adjust the content of the Circular of last June, so that the most favorable conditions are created”. In short, it is necessary to specify what is meant by willful misconduct or gross negligence.
The general manager of Ance Massimiliano Musmeci and the deputy general manager of Abi Gianfranco Torriero confirm that “a working table is active between the two Associations to analyze the issues concerning the relationship between banks and construction companies. One of the most in-depth topics is that of the full functioning of the assignment of receivables deriving from building bonuses, with the aim of contributing to creating the best conditions for the full functioning of the assignment market. The amendment approved during the conversion phase of the Aiuti bis decree goes in this direction and the evaluation of the two Associations is positive. Now Abi and Ance are urging the Revenue Agency to promptly review the content of last June's Circular, which is no longer consistent with the new regulatory provisions".
