Receivables from Direct Taxes
The Assignment of Tax Credits from Direct Taxes is addressed to high-standing companies desiring to outsource the management and obtain advance payments of the amount for tax receivables, such as IRES (tax on company revenue) and Robin Tax claimed as refunds and characterized by potentially medium/long-term payment timelines.
UniCredit Factoring acquires this type of tax credit claimed by the assignor from the “Agenzia delle Entrate” (Tax Agency), manages them as regards administration and takes care of collection. At the assignor’s request, UniCredit Factoring, usually after receiving report of notification and to the maximum extent of 80% of the relevant amount may, moreover, pre-pay the consideration for the assigned receivables or proceed with their purchase.
In this type of operation, the insolvency risk pertaining to the debtors may remain either with the assignor (With-Recourse transaction) or be charged to UniCredit Factoring (Non-Recourse transaction).