Construction Bonuses Important News About Waiver of Receivables: What Accountants Are Demanding

CNDCEC’s requests to the government are intended to give new strength to construction bonuses, to avoid a dramatic bounce-back effect.

For construction and related sales bonuses, the following are the proposals of accountants to the government. What to do, starting with credit institutions, to restore confidence in the sector and open the market.

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in the subject of construction bonuses, In particular Super rewards and main rewardsthe accountants indicated their independent proposal to the government, to allow free transfer of credits earned, in favor of the banks.

In particular, these proposals were included in the letter sent by the President of the CNDCEC (National Council of Certified Public Accountants and Accounting Experts) Elbano de Nuccio, to the Prime Minister, Mario Draghi, to the Minister of Economy, Daniel Franco, to the Chairman of the Chamber’s Finance Committee, Luigi Maratin and Director Revenue Agency Ernesto Maria Ruffini.

To illustrate this is a press release on the 14th of last June. It seems that for Lifting the ban on the balance transfer mechanism, The class of accountants proposes to allow the transfer of credits derived from the construction of interventions, beyond the subjective nature of the transferee. Let’s see in more detail the issues that, given their social significance, deserve further study.

Construction Bonuses: Purpose of CNDCEC Proposal and No Fraud Risk

To finally get out of the impasse created by the circulation of tax exemptions arising therefrom construction bonusi, CNDCEC President notes that regulatory intervention is necessary to restore banks’ ability to convert freely earned credits, Regardless of the subjective nature of the transferee.

On the other hand, the assignment of credit Super rewards and main rewards It is a factor that affects the entire construction sector. This is why accountants determined that the above regulatory intervention would “Preserving a valuable regulatory mechanism such as that of monetizing construction bonuses, without sacrificing the need to combat improper use, as well as to prevent the entire construction sector from suffering irreparable consequences“.

CNDCEC President De Nuccio also noted that this is a proposal that does not increase the risk of Forgerybecause there are:

  • Compliance visa;
  • Certification of cost adequacy and anti-money laundering measures already provided for in the Anti-fraud Ordinance;
  • Procedures launched by the banking system.

Proposal to extend the deadline for compensation

Not only what accountants have just indicated to enterprises: in fact, in parallel with the intervention on the recipients of credit transfer by banks, the category of accountants indicates the possibility of extending times credit clearingthus increasing the tax capacity of people who receive credit.

De Nuccio himself declared that:Proposals for a longer period for compensation by assignees of tax credits are also of interest, which are currently envisaged to be used in offsetting in the same ways that the transferor-beneficiary first would have used. “

This proposal will also have undoubted practical value, in order to restore the climate of trust among stakeholders and contribute to the relaunch of the mechanism Credit assignment. In short, according to De Nuccio, the goal should be to break the deadlock in the field of construction bonuses, in order to avoid it.”Measures taken in the midst of the Covid-19 emergency to support and revive the economy, to which the state has allocated significant resources, are turning into a deadly economic and social boom“For the sake of the country.

Conclusions

It is true that what the accountants have pointed out is expressly aimed at overcoming the stalemate associated with regulatory uncertainty and the complexity of rules that, in the end, can have a profound impact on the entire construction sector – nullifying efforts to re-launch the sector.

On the other hand, the regulatory framework throws its weight on the work of the banks which have suspended loans due to the exhaustion of the capacity to compensate. As a result, blocks have fallen behind the construction sector for lack of liquidity associated with the difficulty of monetizing credits. This has resulted in many problems, with particular reference to cases of intervention that have already started or have been planned for some time.

In addition to the requests of the National Council, all the most interested observers hope that the substantive initiatives will come with measures dedicated by the government, to re-launch the effectiveness of the interventions in the construction area.

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