The rules of the Superbonus tax credit have changed: be prepared with our solutions
For 2023, the government is considering major changes to the 110% Superbonus discipline.
The credit assignment mechanism, on which the planning and start-up of so many construction sites in Italy have been based in recent years, as well as the relationships between the parties involved-general contractors, companies, banks, condominiums-promises to undergo changes that would have profound and diverse effects. Following developments closely so that we can move early and well when a problem arises is crucial.
For this, we have activated the Superbonus Rescue Team: a coordinated focus group of qualified professionals dedicated to finding effective solutions with respect to the impact the new rules may have on planned and ongoing construction sites.
Focus Areas
LITIGATION
- Situation: Failure to execute agreements made with credit assignees risks blocking open construction sites and, more generally, may give way to lengthy and costly litigation. This scenario should be avoided in the first place, and managed when it arises nonetheless.
- Responses: Solutions such as reducing penalties or invoking supervening excessive onerousness can prevent the onset of a lawsuit with the assignee of the receivable or the client of the work; and, in the event of civil litigation, can protect the company against the other parties involved.
CORPORATE CRISIS MANAGEMENT
- Situation: The current scenario has resulted in credit stranding and cash shortages as current expenses for businesses continue to be faced. This combination threatens to put businesses in crisis.
- Responses: There exist tools and procedures to support companies, provided for in the new Italian Codice della crisi d’impresa (Business Crisis Code), aimed at resolving the crisis: for example, negotiated settlement, which can also result in agreements with creditors.
LABOUR
- Situation: The execution of contract works is not always preceded by the necessary checks on the compliance with obligations involving personnel. The client is jointly and severally liable for payroll (including severance pay), social security and welfare debts accrued by the contractor and any subcontractors in relation to workers employed in the execution of the works.
- Responses: For the purpose of granting the tax benefits provided by the Superbonus legislation and the regularity of the contract, a careful verification of the relevant requirements and rules will have to be carried out, both with referenceto the technical-professional suitability of the personnel involved,and with regard to the issuance of the necessary documentation .
CRIMINAL PROFILES
- Situation: In recent years, there have been numerous judicial initiatives that have led to large seizures for crimes of defrauding the state in the context of Superbonus-related procedures (e.g., invoices, declarations, asseverations).
- Answers: Criminal risks can be prevented by putting in place preventive controls, through the reorganization of the 231 models of the companies involved in the disposals, and, where appropriate, by defending against charges related to tax crimes, undue compensation, forgery or crimes against property.