Position Paper
Table of contents
Alfonso Scarano – The pretextual demonization of tax credits
Domenico Passarella – Quantitative analysis and legislative bulimia on the superbonus tax credit
Enrico D’Elia – Tax credits: a macroeconomic evaluation and some international practices
Armando Pugno and Alfonso Scarano – Comparing intervention strategies for the energy efficiency of buildings
Vincenzo Somma – A Survey about the social perception of tax credit on a sample of informed people and a control sample
Stefano Sylos Labini – Operation and historical basis of tax credits
Luigi Benigno – Legal issues and impact on the judicial system
Antonio Tanza – Consumer protection issues and impact on the economic and social system
Mario Tiberi – European economic policy and the tools to carry it out
Roberto Schiattarella – Rationality of politics and constitutional framework
Catalin Pintilie – Letter by an entrepreneur “exuded” by the superbonus
The economics of tax credits
Summary
Tax credits are tools among the others to provide merit goods and public services. The main advantage is that tax credits have a stronger impact on GDP, compared to funding public expenditure through tax. Secondly, tax credits potentially better comply to taxpayers preferences. On the other hand, this tool can be hardly targeted to provide specific goods and services; their impact on public budget and economy strictly depends on their actual take up; expenditure cannot benefit from possible scale economies. Tax credits are widely used in many countries. In the USA tax credits serve to supplement wages of working poor since decades and are the base of the IRA programme. A crucial feature for tax credits being effective is their transferability in case they exceed taxpayer’s tax liabilities.