Superbonus 2024: Eurostat considers it 'not payable' in the public accounts

Eurostat considers that the Superbonus accrued after the adoption of the reform contained in the March decree and converted into law in May, should "be recorded in the public accounts as a tax credit not payable in 2024", except for the exceptions provided for by law. This is stated in the opinion sent to Istat on the accounting of credits. Instead, the classification as a 'tax credit due' for the Superbonus activated in the years 2020-2023 is confirmed. It can therefore be deduced that since the adoption of the latest rules, the effect of the Superbonus on the deficit will be spread out over the years, as envisaged by the government.

Considering the Superbonus of the past as 'payable' means that the expenditure until the end of 2023 for the 110% building incentives remains accounted for in the public accounts of the past. From 2024 being classified as 'non-payable' this expenditure can instead be spread over several years, thus having a different and lower impact on the public deficit. As of 1 January this year, the rules of the European Stability Pact, reformed in April after lengthy negotiations, came back into force, with stringent criteria also on the return of excess public deficits. Among the main novelties of the May law on the Superbonus is precisely that expenses incurred from 1 January 2024 can be deducted over 10 years instead of 4.

In the conclusions of the opinion, Eurostat specifies that for the part of the 2024 expenditure related to the derogations, as defined by law, for which the transferability remains applicable, the accrued Superbonus should continue to be accounted for as a tax credit payable. For the past, the European Statistical Office had already indicated in other opinions on the Superbonus that its assessment was based on the assumption that the amounts of tax credits that will possibly be lost in the future will be negligible for the period 2020-2023.