“Growth Decree”

On the 27th of July 2019, the D.L 34/2014 became Law 58/2019.

Such law provides the possibility, for the person who supports the expenses for energy efficiency, to receive a advance payment from the supplier who carried out the intervention, equal to a discount of 50% on the invoice.

Afterwards, this supplier will have the right to assign this credit to its own suppliers of goods and services. For the latter this amount can only be repaid in the form of a credit on their taxes to be used in 5 equal annual amounts without the application of any countervailability limit.

Palagina declares NOT to accept the assignement of these fiscal credits, as it would have much more tax credits than the taxes to be paid and, therefore loose the possibility to use these deductions.

Therefore, as of today and unless otherwise communicated, all our relationships will be bound to inapplicability of this retrocession.