More checks and more rigorous checks during the purchase phase. It’s indications disseminated by Abi the Italian banking association after the publication of the 130-page circular issued by the Revenue Agency to clarify all the rules relating to Superbonus, in particular those relating to controls and responsibilities in the use of credits. In particular, Abi focused on strengthened diligencewhat buyers must have, in particular when they are banks or financial intermediaries.
The “mandatory guidelines” for banks
“The clarifications issued by the Revenue Agency – reads the Abi note – regarding the activity of due diligence required of buyers of tax credits provide cogent guidelines on operations relating to the superbonus “. “The term ‘mandatory’ is critical. These clarifications are an integral part of the 110 per cent regulations ”, explained to Sole 24 Ore the deputy general manager of ABI, Gianfranco Torriero. “In these days – added Torriero -, we have often heard requests for simplifications, but the response of the Revenue seems different to me: we need evaluation processes particularly rigorous, because these processes can have an impact on the responsibilities of those who buy. This is a strong signal ”. Banks will therefore have an even greater role than banks in the credit market.
The market response
To prevent the responsibilities assumed by the Revenue Agency, the market will be forced to move into direction of maximum rigor: who has not already structured a adequate control system it will probably have to stop, to avoid problems, and align itself with the Agency’s directions.
From all large banking institutionson the other hand, there are calming signals: i processes used so far, both on the anti-money laundering and on the fiscal front, they are consistent with the circular.
If we look at the market more generally, which also includes that outside the perimeter of banks, it remains to be verify the real impact in terms of of times and costs that these rules will have on sales and if it will be possible to stem maxi scams like the one discovered in Naples in recent days.
The question of the sale of credits
But banks are also potential sellers of credits to so-called “professional clients”. On this issue, the circular did not clarify what diligence these subjects, however qualified, must have when they buy.
“Since the purchase comes from a bank – explained Torriero -, the the bank will have made all the checks upstream of the case. Furthermore, these aspects could also be addressed in the contracts between the bank and the professional client “. There would however be room for further clarification of the Revenue to explain that who buys from a bankperhaps years after work, He can not not even theoretically be accused of complicity in the violation.