Superbonus, Eurostat: tax credits not payable in 2024


Emma Potter

The recent reform of the Superbonus, converted into law in May, has introduced important changes in the management of tax credits, with significant impacts on Italian public finances. Eurostat has in fact expressed its opinion on the accounting of Superbonus credits, defining new methods that will influence the state deficit in the years to come.

But what does all this mean for the Italian economy? And what are the main differences compared to the past management?

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Eurostat’s opinion on the Superbonus

According to the opinion sent by Eurostat to Istat, the tax credits accrued after the Superbonus reform will have to be recorded in the public accounts as “tax credits not payable in 2024“, except for the exceptions provided by law.

This means that, unlike the credits activated in the years 2020-2023, which continue to be classified as “tax credits due”, the new credits will have a different accounting treatment.

This change means that the effect of the Superbonus on the deficit will be spread over several yearsreducing the immediate impact on public finances.

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Implications of the new accounting classification

Considering the Superbonus as “payable” for the period until the end of 2023 implies that the expenditure for the 110% building incentives remains accounted for in the public accounts of the past. From 2024, being classified as “non-payable”, this expenditure can be distributed over a longer period, mitigating the impact on the public deficit.

This change is particularly significant in light of the return into force of the rules of the European Stability Pact, reformed in April, which imposes stringent criteria on the reduction of excess public deficits.

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The new rules for expenses from 2024

One of the main innovations introduced by the May law concerns the deduction of expenses incurred starting from January 1, 2024, which can be deducted over 10 years instead of 4.

This extension of the deduction period offers greater flexibility in financial management for citizens and businesses, and contributes to a more balanced management of the state budget in the long term.

Eurostat has specified that for the part of the 2024 expenditure relating to the derogations, the accrued Superbonus must continue to be accounted for as a payable tax credit.

For the period 2020-2023, the European Statistical Office had already indicated that the amounts of tax credits potentially lost in the future would be negligible.

This confirms that the new approach to accounting for the Superbonus aims to ensure greater financial sustainability for Italy, while reducing the immediate burden on the public budget.