With 94 votes in favour, 72 against and 2 abstentions, the Assembly of Palazzo Madama renewed its confidence in the Government by definitively approvingDecree No. 636, converting into law, with amendments, Decree-Law No. 11 of 16 February 2023, containing urgent measures on the transfer of tax credits.
We are talking about the Superbonus, the tax relief governed by Article 119 of Decree-Law No. 34/2020 (the Relaunch Decree), which consists of a 110% deduction on expenses incurred from 1 July 2020 to improve the energy efficiency of buildings and reduce seismic risk.
The Superbonus, as is well known, allowed suppliers to give a discount on the invoice for building renovation work, and they could then transfer the credit to third parties, first and foremost banks. From 17 February 2023, the block on the transfer of credits and on invoice discounts for building-related bonuses, including the Superbonus, came into force, thus bringing about the end of ‘tax currency’.
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According to the Senate website, the decree approved today has “the aim of curbing the increase in credits linked to building bonuses. The decree therefore prohibits the possibility of using the invoice discount or the transfer of credit for expenses incurred for new works to renovate building stock, improve energy efficiency, or for the Superbonus and the façade bonus”.
The exemptions:
Some exemptions to the ban have been provided for:
For Superbonus works for which the notice of commencement of works (Cila) has already been submitted or, in the case of condominiums, for which the owners’ meeting resolution has also been adopted.
An extension to 30 September 2023 of the 110 per cent Superbonus for works carried out on villas and single-family houses.
The possibility of still using the invoice discount and the transfer of credit for works carried out in seismic zones and in the areas of the Marche affected by flooding.
For works aimed at removing architectural barriers.
For works on social housing properties and those of non-profit organisations (Onlus).
For banks, the possibility is guaranteed of converting the credits they have purchased into ten-year Btp (Italian government bonds), if they have exhausted their tax capacity for offsetting.
Source Senate website
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