Prohibition to carry out more than three credit assignments; those beyond the first must be in favor of banks, insurance companies or supervised financial companies and cannot be of a partial entity, identification stamp of the transferred credits, very heavy penal sanctions for technicians who certify inflated or non-existent costs. This is the way the government wants to defeat the phenomenon of scams on the sale of credits deriving from tax bonuses. But what will actually change?
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What happens to those who intend to start work now?
With the publication of the decree law, the rules governing multiple transfers come into force: if the customer assigns the credit to a subject (usually a bank but could in theory be anyone), he will be able to transfer the credit only to a supervised company (bank, insurance, financial institution registered in the register) and this in turn will be able to carry out a single transfer to another supervised company and here in any case the chain is interrupted. Similar scheme if the client, instead of giving to a third party, opts for the discount on the invoice from the company carrying out the work. This can only be transferred to a supervised entity and these to another supervised entity, then that’s enough.
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And what happens to those who have already started the work?
For the sales already communicated nothing. The multiple assignment rules apply to assignees. The problems for those who have started the works but have not yet carried out the sale could come not so much from the rules themselves as from the effects they will have on the market. It may be more difficult to obtain the transfers especially in cases where the banks have already exhausted the ceiling reserved for this particular business. And it might be more difficult to get the discount on the invoice too. When the company makes the discount, it practically never uses it directly, but in turn transfers the amounts to a person with a strong financial capacity (typically a bank). It is easy to predict that companies will be weighed with the utmost attention before being able to assign credits.
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Are partial transfers possible?
From the reading of the text of the decree it is clear that A first partial transfer will always be possible, while the transferee, on the other hand, from next May 1st will not be able to make partial transfers. The unique identification code that will be used to trace the operations will also start from 1 May. The new procedures for the transfer and traceability will be defined by a provision of the Revenue Agency.
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What changes for lenders?
As noted above, banks will scrutinize operations much more carefully. In addition to having a more limited room for maneuver to make subcessions, credit companies must absolutely avoid the risk of endorsing suspicious transactions, primarily for reputational reasons but also for financial reasons. It is true that the civil law principle of the third party in good faith is in force so that if the transferees can certify that they have carried out real checks (the checklists of the banks for 110% with their endless list of items constitute a good guarantee), the Tax Authority must retaliate against the taxpayer and not about them; but when the judge also intervenes, the figures are seized at all links in the chain of assignment. The decree limits the timing for seizures but the risk for the transferees must be absolutely avoided.
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How does the convenience of the various bonuses change?
For 110% it changes little, the professional costs will increase but if you are within the total expenditure ceiling it is not a real problem because they all fall within the facilitation
. There is a possibility of escaping the fee relating to the credit congruity visa but, given the sums involved, it is almost theoretical. The customer can not assign the credit and ask to obtain the deductions directly in five years (works carried out until 2021) or in four (works in 2022) by sending the pre-filled tax return. For the other bonuses the speech is different. For credits exceeding 10 thousand euros (and even for minor credits in the case of facades bonuses), in the case of compulsory transfer, the compliance visa and if you add to this the fact that banks will probably reduce the credit percentages to be granted to customers, the convenience of bonuses will decrease.
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