Taxes, maxi-fraud for 2 billion in false credits: GdF targets accountants and 39 companies

Taking advantage of the tax benefits of the 'Growth Italy' decree, in the end only the mountain of non-existent credits 'grew'. It was the Public Prosecutor's Office with the provincial command of the Naples Guardia di Finanza that shed light on the multi-million euro fraud by proceeding with the preventive seizure of EUR 347 million of fake credits from 39 companies. The Gip of the Court of Naples North targeted companies based in the provinces of Naples and Caserta and also executed numerous searches against some accountants between Casoria and the provinces of Rome and Milan.

However, the activities of the Frattamaggiore Gdf are in line with the seizure orders ordered by the Neapolitan Public Prosecutor's Office and carried out from 2022 to the present day, which altogether have made it possible to interrupt the circulation of non-existent tax credits amounting to more than EUR 2 billion, thus averting a very serious damage to the Treasury.

The investigations, conducted by the provincial group's financiers, revealed that some companies, which had already been seized of credits for investments in the South of Italy that had never been incurred, had sent numerous declarations to the Inland Revenue Agency, communicating the availability of further credits deriving from the transformation of alleged deferred tax assets into tax credits. All of this, as mentioned, by illicitly exploiting the facilities introduced by the Government with Decree 34 of 2019 and renamed then 'Crescita Italia'.

Too many false data indicated in the tax returns aroused the suspicions of the Fiamme gialle, which, starting from the requirements set out in the decree, reconstructed the falsity of the information indicated in the returns sent to the tax authorities. Data from which it emerged that the companies had never accumulated, over time, economic growth aid surpluses or tax losses for amounts compatible with the credits, millions of euro, indicated in their tax returns.

The 'Growth Italy' decree had given companies the opportunity to transform into a tax credit the tax losses accumulated over time and not yet deducted from their income, or Ace (Aid to Economic Growth) surpluses, also unused, to the extent of 20% of any impaired receivables sold to third parties by the date of 31 December 2020, a deadline later extended, by applying the IRES rate. The resulting amount, which represents deferred tax assets (Dta), can be used to offset taxes due, sold to third parties or requested for reimbursement from the Revenue Agency.