Superbonus 110%, wave of checks by the Inland Revenue. The assignment of loans now only with banks

A squeeze that does not want to discourage the use of super bonus, but only stop the fraud on the front of the assignment of tax credits. From the government’s point of view, this is the logic of the latest legislative amendment on the subject, the one included in the (forthcoming) decree on refreshments and expensive bills. The law prohibits the chain transfer of tax credits generated by the works eligible for the deduction of 110%, establishing that they can be discounted only once, with the possibility for the company to apply the discount formula on the invoice.

In fact, as several M5S parliamentarians who oppose the novelty have noted, this means essentially reserving the use of credit to banks. In recent months, the sequence of repetitive operations (which implicitly leads to the creation of a sort of “fiscal currency”) had prepared the ideal environment for the scams detected and reported by the Revenue Agency. And previously also the UIF, the financial intelligence unit at the Bank of Italy, had expressed itself by explaining that the creation of fictitious credits opens doors for money laundering operations.

THE CHOICE

The intention to limit the management of loans to financial intermediaries is confirmed by another choice made by the executive, gained in recent weeks. A ready-made provision was put back in the drawer, which would have removed all limits on the presence of non-bank operators in the 110% credit market. This was an authentic interpretation that should have clarified – with respect to the law in force which is of 2015 – how this activity, like that of the assignment of VAT credits, is not reserved for financial intermediaries. Subjects of this type are actually already present, but the legislative clarification by removing all doubts would have widened the audience even further. Now that the climate has definitely changed, nothing will be done about it. Meanwhile theRevenue Agency it will continue its checks also in light of the new rules, while for many events already identified the ball has passed to the prosecutors of the various centers concerned.

Beyond the political grievances of the Five Star Movement and those of the operators who complain about the too many regulatory changes in progress, it remains to be seen whether this last modification will have an effect on the use of the superbonus. According to Marco Marcatici, economist and head of Nomisma’s “110% Monitor” “demand remains higher than supply and after a slowdown at the beginning of last summer, interventions are constantly growing”. On the other hand, from the point of view of the families who choose to access this facility, the convenience is relevant, certainly not the subsequent market for the assignment of credits.

“It will be important to understand exactly the scope of the new regulation, if it allows companies to discount the invoice and then further assignment of credit by these to the banks,” explains Marcatile. The commitment of the credit institutions was confirmed by the deputy director general of ABI Gianfranco Torriero. «Banks must always operate to protect legality, as evidenced by the tens of thousands of annual reports of suspicious transactions – explains Torriero -. therefore also in the superbonus advance operations they must operate to comply with the regulations, use the platform of the revenue agency and activate procedures calibrated on the basis of the documentation ».