Tax credit is a classic economic policy instrument, much more efficient and cost-saving than direct government borrowing on the capital market. In order for the classic economic multiplier to work and effectively activate, the tax credit recognized and granted by the national state must be transferable and divisible, otherwise it remains trapped in the tax drawer, therefore crippled. However, an efficient financial market is necessary, technically prepared on the merits of this instrument which can transfer tax credits making this instrument available for investment, with attention to its use in tax compensation, and therefore be effectively used by fiscally capable subjects . The USA with the IRA program – “Inflation Reduction Act” is showing the world how to invest around 500 billion dollars, especially in tax credits intended for energy efficiency. Already in its first year of activity, IRA significantly influenced the result of +4.9% progress in US GDP. Italy also demonstrated, despite the technical and operational difficulties, that the post-pandemic GDP progress was significantly driven by the construction sector supported by energy and seismic efficiency programmes. Europe, with such examples, cannot stand by and watch, but must grasp the pragmatic inspiration to support European economic policy projects also by recommending the use of tax credits in the right proportions to the country’s tax revenue, by regulating it.
The objective of the round table is to show European decision makers the concrete possibilities of economic and social progress also supported by the instrument of tax credit, making the economic multiplier fruitful, through the creation of an efficient financial market, through the opinions of qualified financial, banking, legal, tax experts, technicians and consultants in the matter. This initiative promoted by the CERSTE research center – Center Européen des Recherches Socio-économiques, Technologiques et Environnementales – is viewed with interest and supported by pluripartisans for the common interest of placing efficient new resources destined for European growth.
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