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

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.