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Italy: Seizure order against consortium for about 110 million euros of tax credits

Christian Fernsby |
By delegation of the Prosecutor of the District Republic of Naples, the following is communicated (in compliance with the rights of the suspect, to be considered presumed innocent in consideration of the current phase of the procedure - preliminary investigations - until a final finding of guilt with irrevocable sentence).

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Topics: ITALY   

Soldiers of the Provincial Command of the Guardia di Finanza of Naples have executed an emergency preventive seizure measure requested in the phase of preliminary investigations by the Public Prosecutor's Office of Naples, concerning about 110 million euros of tax credits relating to the so-called "Superbonus 110%", against a Consortium operating in the sector, as well as searches and seizures against other subjects who would be, in various capacities, involved in criminal activity.

In total, search and seizure activities were carried out at the residences of 21 natural persons, the offices of 3 institutions / companies as well as preventive seizures of credits from 16 subjects (financial institutions, companies and individuals).

The activity originates from a risk analysis developed by the Revenue Agency – Taxpayers Division – Illicit Contrast Sector on the entitlement to the bonus in the building sector provided for by the "Relaunch" Decree (Legislative Decree 34/2020); as is known, it is a tax benefit recognized in the amount of 110% of the amount of expenses incurred for the realization of building renovation interventions, aimed at securing the buildings from seismic risk and improving their energy performance.

The benefit recognized by law consists in the tax deduction, or in the possibility of using, pursuant to art. 121 of the "Relaunch" Decree, a tax credit equal to 110%, transferable to third parties and therefore monetizable.

On the basis of the results of the analysis of the Revenue Agency, the investigations delegated by the Judicial Authority of Naples to the Economic-Financial Police Unit at the same location would have revealed a fraudulent system as follows:

the Consortium, through a network of brokers, would have proposed itself to private citizens interested in carrying out the works falling within the application of the superbonus, making them stipulate contracts for "works contract with transfer of the tax credit" and requesting the delivery of the necessary documentation, except to interrupt immediately after the relationships or perform only bureaucratic activities;

having received the contracts, the Consortium would have issued invoices for non-existent transactions towards private clients in which reference was made to a state of progress of the works for a percentage of not less than 30% (minimum percentage required to claim the transfer of the tax credit);

only following a request for information from some Departments of the Corps, the private subjects found in their tax drawer the presence of the aforementioned invoices, which would have been issued in the face of works never carried out, which were related to subsequent assignments of credits in favor of the Consortium, preceded by the communication of the accountants who would have affixed the compliance visa;

the prescribed technical sworn statements on the work carried out by the Consortium, which would have been issued by qualified professionals, had significant anomalies, highlighted by the competent National Agency for New Technologies, Energy and Sustainable Economic Development (ENEA);

the Consortium, operating in the aforementioned terms, would have benefited from over 109 million euros of tax credits, accumulated starting from December 2020, then sold to financial intermediaries, obtaining monetization, for an amount of over 83 million euros.

In order to counter and stem the criminal activity described above, the Public Prosecutor's Office of Naples economic crime section has requested and obtained the emergency precautionary measure, carried out with the related search and seizure decrees so as to interrupt the circulation of credits, identify those responsible and allow the unsuspecting citizens involved to adopt legal initiatives for their protection.

The judicial police activities, carried out against the Consortium and its members of the board of directors, the final assignees of the credits, the intermediaries as well as the professionals who would have issued the sworn statements or the compliance visa, involved the regions of Abruzzo, Calabria, Campania, Friuli Venezia Giulia, Lazio, Lombardy, Piedmont and Veneto and were also carried out with the contribution of the Departments of the Guardia di Finanza located in the respective locations.


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