Assignment of credit, how could joint and several liability be limited

06/09/2022 – Eliminate, or at least limit, the joint and several liability of those who purchase the credit corresponding to the building bonuses. It is the goal of a series of amendments to bill for the conversion of “Aid-bis” Decree, which tomorrow resumes its process in the Senate. The meeting of the Budget and Finance Committees, initially called for today, was unscheduled and rescheduled tomorrow morning at 9.

The amendments, presented across the board by the exponents of several political forces, aim to reactivate the credit transfer market.

Assignment of credit and joint and several liability

The stalemate was caused by the overlap of several regulatory changes, introduced to prevent tax fraud, which are putting professionals and businesses at risk.

One of the corrections to the loan assignment mechanism came into effect on August 20 and allows banks to assign loans not yet disposed of to all VAT numbers, without time constraints.

The sales market, however, is still in trouble. According to operators in the sector, it depends on the joint and several liability ofcredit purchaser, who can be held responsible for any fraudulent conduct of the transferor. The transferee is required “diligence” in the verification before acquiring the credit, but the operations actually discourage potential buyers and the credits cannot be disposed of.

Aid-bis, the amendments to limit joint and several liability

On the impulse of the operators of the sector, the exponents of almost all the political forces have proposed several times to eliminate joint and several liability, but the attempts to change the legislation have always ended in nothing.

A new attempt is underway with the “Aid-bis” bill. The 5 Star Movement has tabled an amendment that aims to delete in full the joint and several liability of those who purchase the credit corresponding to the deduction.

The Italia Viva amendment aims at reduce responsibilities of those who buy a loan from a financial intermediary. The proposal provides that the diligence, required of the subjects who purchase the credit from the financial intermediary, is always demonstrated in the event that the buyers, before the purchase, had no role in the origin and use of the credit.

Forza Italia presented an amendment that intervenes on two fronts: on the one hand it would allow use in subsequent years the share of credit accrued after having applied the discount on the invoice and not used, on the other hand it would limit the cases of joint and several liability.

As for the solidal responsibilitythe Forza Italia amendment asks to exempt banks, financial intermediaries and insurance companies authorized to operate in Italy. The amendment proposes to demonstrate diligence of the transferees through a declaration, issued by the financial intermediary, certifying the presence of the necessary documents and the conditions that give the right to the deduction.

Given the specific nature of the tax bonuses, also intended for the redevelopment and safety of properties belonging to the low-income populationForza Italia also asks to eliminate, from the indicators that demonstrate the falsity of credits, the criterion of income and equity inconsistency between value, object of the works and profile of the beneficiary client and the criterion of disproportion between the amount of the transferred credits and the value of the real estate unit.

The proposals will now have to be evaluated and voted on by the Budget and Finance Committees of the Senate, called from tomorrow to examine the text of the bill.

Source: Le ultime news dal mondo dell'edilizia by

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