Building bonuses tax credits sale-back: agreement with Piva Group for €29mln

Intesa Sanpaolo and Piva Group – a leading Veneto-based door and window manufacturer – have signed an agreement for the resale of building tax credits with a tax value of €29 million.

The agreement aims to support the construction sector in the Veneto region and nationwide: sale-back to companies allows the bank to expand its tax capacity in order to revitalise the sale market.

Intesa Sanpaolo has purchased over €18 billion in tax credits, accounting for nearly 50% of the financial intermediary purchase market. In implementation of the Aid Decree, it has signed contracts to sell them back to companies for a total of €7.7 billion.

Photo credits: courtesy Piva Group spa