In times of crisis, the fiscal currency arrives

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In times of crisis, the fiscal currency arrives. It it represents a good lifeline for citizens. The fiscal currency is foreseen by articles 121 and 122 of the Relaunch Decree and will allow taxpayers to transform tax credits into tax breaks in money. An operation that would be possible in the event that the concessions are transferred to third parties, including credit institutions and financial intermediaries. The proposal relating to the fiscal currency was presented in an amendment to the Relaunch decree and is currently in Parliament for conversion into law.

In times of crisis, the fiscal currency arrives: what is the tax credit

The government, therefore, in the absence of money, thought well of introducing a tool aimed at giving a boost to the economy. She did it, putting the tax credit into circulation. The assignment of said credits to face the health emergency allows the taxpayer to transform them into money. The latter can be preferred by the taxpayer if he does not have taxes, contributions or other tax breaks to be used in compensation.

For real estate, for example, the discount on what is owed to the supplier can be a valid financial instrument, which allows you to avoid the outlay of money. As regards, then, the assignees of tax credits and tax bonuses, the provision provides clarifications on who they can be. These are all subjects other than the taxpayer, including credit institutions and other financial intermediaries.

As for tax credits that can be used immediately such as those relating to leases, the transfer can take place at par or almost. In the case of slow recovery bonuses, however, the purchase of the tax bonus usually takes place at a lower price. This is justified by the financial advance that the transferee assumes on himself. Think of the tax credit assigned for construction works. Furthermore, the transfer of it can also be partial. It is clear that tax benefits must be used according to the law. In fact, sanctions for buyers are provided by the financial administration. These are imposed in the event that the tax bonus is used irregularly or to a greater extent than is due.



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