Superbonus: goodbye to invoice discount, credit transfer and performing remissions


Emma Potter

The Italian government has announced an important turning point in the management of construction and tax bonuses, with the aim of containing the risks of new overruns in public finances caused by measures deemed too generous.

The Minister of Economy, Giancarlo Giorgetti, expressed concern about the financial implications of these incentives, describing them as “thoughtlessly created” and responsible for “devastating results for public finances”.

In response, the Council of Ministers has approved a decree introducing significant restrictionsincluding the elimination of the invoice discount, the introduction of a preventive declaration, the blocking of compensations with the Ace relief for businesses, and the compensation of credits only after the possible payment of tax debts.

These measures were taken to reduce the negative financial impact and ensure greater control over the construction-related tax incentive system.

The content of the decree law

The new Law Decree introduced by the government introduces significant changes to construction bonuses, with the aim of strengthening control over public finances and preventing abuse. Among the most relevant measures is theelimination of the option for invoice discount or credit transfer for interventions following the entry into force of the rules, marking a decisive turning point in the management of tax deductions.

Furthermore, to gain precise knowledge of the economic and financial impact of these benefits, it comes excluding the application of remission in bonisprecluding the possibility of regularizing communications with the payment of reduced penalties until 15 October 2024.

The decree also provides for significant sanctions for those who do not transmit the requested information on subsidized interventions, introducing a fine of 10,000 euros for the failure to communicate and the forfeiture of the tax relief for new interventions. To combat the use of building bonuses by individuals with debts to the treasury, it is also established that tax credits are suspended until the debt is paid, if the amount due exceeds 10,000 euros.

Finally, the decree aims to combat fraud in the transfer of ACE credits, limiting the possibilities of transfer and introducing joint and several liability in the event of violations. These measures indicate a government commitment to ensuring that building incentives are managed responsibly and sustainably, whilst safeguarding public finances.

Minister Giorgetti's statements

Minister Giorgetti clarified that the new decree aims to definitively eliminate the “excessive generosity” of tax incentives linked to construction, which so far have included discounts on invoices and the possibility of credit transfer. These measures have been deemed to place a considerable burden on public finances, with effects that could weigh on the state budget for several years to come.

The decree also establishes that all new operations must be communicated via prior communicationthus ensuring more effective and timely monitoring of the phenomenon.