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Prices fall and are reduced to ceilings. What will change with the cessation of automatic reductions?

Prices fall and are reduced to ceilings. What will change with the cessation of automatic reductions?

As in the mosaic, construction bonus reform is beginning to take shape, which the government is likely to introduce with the next budget law….

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Like a mosaic, the construction bonus reform is taking shape, which the government will likely introduce with the next budget law. Initially it was the Minister of Economy, Giancarlo Giorgetti, who announced the end of automatic tax deduction mechanisms. It is a line also supported by the PBO, the Parliamentary Budget Office. Now it is Finance Ministry Director Giovanni Spalletta who is providing other pieces of the puzzle. Speaking yesterday at a Senate hearing, Spalletta explained that in future support for construction, it will be necessary to say goodbye to “excessively generous rates.” Like those, so to speak, from Superbonus. Not only. Spalletta revealed how his management in the technical office proposed setting all construction bonuses at 50%, with very few exceptions at 60 and 70%. But he also explained that in the future it may be necessary to impose “tighter restrictions on the spending ceiling” and on business deductions, while “the conversion of tax credits into direct contributions” would have to go through “prior authorization procedures.” That is, the line supported by Giorgetti, without automation. In short, the work on reform has begun. The changes could also relate to “privileges that expire on December 31, 2024”.

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The strategy

This urgency stems from the fact that the legacy of Superbonus carries a heavy weight, with the cost exceeding the threshold of 160 billion euros which also reduces the margins of the upcoming budget, as the government will face many difficulties in confirming such measures. Such as a wedge tax or an expansion of the tax cut. Instead, the Director of the Revenue Agency, Ernesto Maria Ruffini, explained yesterday in the Senate, “regarding the fraudulent use” of loans: “With regard to construction bonuses, we have intercepted frauds amounting to approximately 15 billion euros with the Financial Police: from and thanks to our preventive controls, 6.3 billion euros were identified and disposed of before the fraud occurred; instead, 8.6 billion people were subject to seizure provisions by the judicial authorities. The agency notes that these numbers were “frozen” before they entered the economic circle. Then, Reuvinni himself announced, “the first notifications were sent.” To recover compensation for the super bonus,” while with further checks “other recovery documents will be issued against those responsible.” Instead, Ace Balance scams reach $100 million.

Governance

Returning to the benefits reform, Spalletta explained that the “mechanisms of invoice discounting and credit transfer” are no longer compatible with the new European financial management. It is no coincidence that the Ministry of Finance had to insert a series of restrictions – as in the recent Superbonus Decree introduced last March – limiting exemptions to a minimum, as is the case for those who have already started businesses and works in district municipalities. Seismicity. However, the risk that it will have a negative impact is less than the impact he feared. “The percentage of completed works – according to Spaletta – has so far reached 95.2%: it follows that about 5% of the works will likely be completed in 2024 at a reduced rate of 70%.” Always looking to the future, the head of the Senate Finance Committee, Massimo Garavaglia, proposes “greater participation of municipalities in the checks.” A hypothesis that Ruffini also likes.

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