Translated automatically by AI from the Italian original.
If a credit is collected after four years it has already lost part of its value due to inflation and interest on bank loans taken out in anticipation of payment; but if that same credit is then deferred for another ten years at maturity, companies suddenly find themselves without money, and on top of that, over the next decade inflation and interest will “eat up” a further 20% of the capital. It is on this calculation that Ance Sicilia warns of the bankruptcy of many construction firms on the island and appeals to national MPs elected in Sicily to work to remove the distortion contained in Article 37 of the budget law.
The proposed rule blocks, for the year 2027, the offsetting of tax credits arising from renovation work carried out in 2023 under the so-called “Superbonus” and spreads them over ten annual instalments until 2036.
Companies – Ance Sicilia observes – had already lost value by applying the invoice discount or by purchasing tax credits from clients, and then took on the interest on loans taken out to cover the costs incurred and also lost out on inflation adjustments.
They thus relied on the law, which is a commitment by the state, which moved these credits to offset taxes and contributions in four annual instalments until 2027. Until this year it has been possible to use the credits provided for each individual year regularly.
Now, however, if Article 37 of the budget law were to be approved, on a total amount of residual tax credits to be offset in 2027, amounting to €20.5 billion across Italy, the state, to obtain a cash advantage, would allow companies to use only €2 billion, while the remaining €18.5 billion would be spread over ten subsequent annual instalments until 2036.
This means – Ance Sicilia observes – that a company that, for example, has to pay taxes and duties of €1 million, expecting to offset the Superbonus credits it still holds for the same amount, would find itself in January 2027 able to offset only €100,000 and suddenly having to pay the treasury €900,000. This would upset the accounts, require financial plans to be revised and force new borrowing at higher interest rates; with the risk, however, that banks, also burdened by large unused tax credits in 2027, given the changed investment and liquidity scenario, may not grant further credit, especially as, in the meantime, to carry out new work these companies have already taken on financial commitments with suppliers and, perhaps, hired additional staff.
The state – Ance Sicilia concludes – cannot cause small and medium-sized construction firms to go bankrupt by shifting the cost of past commitments onto them, thereby undermining its own credibility. Despite the undeniable cyclical difficulties, different solutions must be found, possibly involving the regions, to safeguard healthy companies that comply with the rules and the jobs guaranteed by the construction sector, which more than any other supports the economy of the country and of Sicily in particular.
