Thursday, July 18, 2024

Eurostat ‘save’ Italian public finances: ‘Super bonus impact on deficit could spread over years’

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Eurostat believes that the super-bonus due after the adoption of the reform contained in the March decree and its transformation into law in May, should be “recorded in the public accounts as a tax credit not payable in 2024”, except for the exceptions provided for by law. We read this in the opinion sent to Istat on the accounting of credits that they confirm […]

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Eurostat believes that the super-bonus accumulated after the adoption of the reform contained in the March Decree-Law and its enactment into law in May, should be “To be recorded in the public accounts as a tax credit not payable in 2024,” Except for the exceptions provided for by law. This can be read in the opinion sent to Istat on the accounting of credits which essentially confirms the approach used so far in the calculations by the Italian Statistical Institute. Eurostat also reiterated the classification as “tax credit due” of the super bonus activated in the years 2020-2023. It can therefore be concluded that from the adoption of the latest rules, the impact of the super bonus on the deficit It will spread over the years..

Considering the previous super bonus “payable” means that the expenses through the end of 2023 to build the incentives are 110%. remains in the public accounts of the past. As of 2024, these expenses will be classified as “non-payable” and may instead be to spread over several years, Hence the existence of different Gradual impact on overall deficit. Oxygen for the Ministry of Economy considering that as of this year They returned to force. The rules of the European Stability Pact, which were amended in April after long negotiations, with Strict standards As well as on reducing the excess public deficit.

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Among the main innovations of the Mayo Law on super-bonus is specifically that expenses incurred as of January 1, 2024 can be deducted. 10 years discount Instead of 4. In the conclusions of the opinion Eurostat specifies that for the part Of 2024 expenses related to exemptionsAs determined by law, and where the transferability remains applicable, the accumulated super bonus should continue to be counted as a tax credit payable. In the past, Eurostat has indicated in other opinions on the super bonus that its assessment was based on the assumption that the amounts of tax credits to be lost in the future would be small for the period 2020-2023.

Karen Hines
Karen Hines
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