Free Trial

MNI BRIEF: Italy Superbonus Deficit Impact Ruling 'In Days'

(MNI) Brussels

Talks between Eurostat and Italy’s statistical office on the impact of the superbonus 110 tax credits are ongoing and a ruling should be announced in coming days, a European Commission official said Tuesday.

The 'superbonus 110' scheme was introduced to allow generous tax credits for home energy efficiency improvements, although spending on the scheme has boosted the construction sector and economic growth in general it has since spun out of control. The Commission official clarified that, while there would be no direct impact on Italy’s public debt, it would have an impact on the Rome's deficit. (MNI: Italy Decree To Boost Meloni's Control Over EUR200Bln Plan)

“If the credits generated by the superbonus are classified as needing to be paid, it will be considered public spending so the tax credits to be paid will become obligations and must to be listed in the accounts at the beginning of the process to obtain the tax credit. If they are considered not payable then they will be part of the future government revenues,” the official said.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
True
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
True

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.