What are tax credit transfers and invoice discounts?

Tax credits accrued following the implementation of projects eligible under the provisions of the “Rilancio" (“Relaunch”) Legislative Decree (Decree Law no. 34 of 19 May 2020, converted with modifications by Law no. 77 of 17 July 2020) may be transferred to third parties, with an option for a further subsequent transfer. Invoice discounts are the possibility, for costs incurred in 2020 and 2021 by the eligible beneficiaries, to opt, in place of utilising the tax deductions directly, for a contribution in the form of a discount applied to the amount due, up to a maximum corresponding to the total amount due, borne by the suppliers carrying out the work and later recovered by them in the form of a tax credit.

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