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The extraordinary commissioner for reconstruction Francesco Paolo Figliuolo he signed the ordinance which allows citizens and businesses affected by the May 2023 flood to access the tax credit for reconstruction
The tax credit allows you to obtain from the State the total amount necessary for private reconstruction interventions
As reported by Ansa Emilia Romagna, the general Francesco Paolo Figliuoloextraordinary commissioner for reconstruction, issued the ordinance which regulates the tax credit.
Now therefore the reimbursement for damages caused byflood of May 2023 can also be obtained with the tax credita measure that allows private individuals to obtain from the State the entire amount of economic resources necessary to carry out private reconstruction interventions.
The beneficiaries will have the obligation to present the documentation for each state of progress of the works. There will therefore be no other costs to be borne by applicants.
After having obtained the concession decree from the Extraordinary Commissioner, the citizen or entrepreneur will be able to go to one of the banks who have joined the agreement between the Italian Banking Association and Cassa Depositi e Prestiti, and open a so-called “technical account“, a free bank account, to which the economic resources to be used to pay for the reconstruction works will be credited.
700 million euros allocated in the latest Budget Law
To cover private reconstruction interventions, the Budget Law has allocated additional funds 700 million euroswhich are thus added to the 1.2 billion already available to the Commissioner.
Interviewer: Good day, ladies and gentlemen. Thank you for joining us today for this special edition of “World Today News”. We have with us two esteemed guests, Mr. Francesco Paolo Figliuolo, the extraordinary commissioner for reconstruction, and an expert on tax policy. Today, we will be discussing the recent ordinance signed by Mr. Figliuolo, which allows citizens and businesses affected by the May 2023 flood to access a tax credit for reconstruction.
Firstly, Mr. Figliuolo, can you please tell us about the significance of this ordinance and how it will help those affected by the flood?
Francesco Paolo Figliuolo: Thank you for having me. The ordinance is a crucial step in aiding the reconstruction efforts following the devastating floods that hit the region in May 2023. It provides economic relief to citizens and businesses by allowing them to access a tax credit for the total amount required for private reconstruction interventions. This is an essential measure as it ensures that those affected do not bear the burden of the entire cost of reconstruction on their own. The ordinance also streamlines the process of obtaining the credit, making it more accessible and less time-consuming.
Interviewer: Thank you, Mr. Figliuolo. Expert, can you expand on how the tax credit works and who is eligible for it?
Expert: Of course. The tax credit allows individuals and businesses to recover the cost of reconstruction efforts from the government. To be eligible, individuals must have suffered damage to their private property due to the flood, while businesses must have been impacted through commercial activities. The credit covers the entire cost of the rebuilding process, including labor and materials. It’s a significant incentive for individuals and businesses to begin rebuilding their lives and livelihoods, knowing that the government is supporting them in this effort.
Interviewer: That’s excellent news for those affected by the flood. How has the response from banks been to this new initiative?
Expert: Banks have been generally receptive to the idea of participating in this initiative. They understand the importance of providing financial assistance to those affected by the flood and are willing to collaborate with the government to facilitate the process
