The last Budget Law, entered into force by 1 January 2024, has introduced many changes specifically tailored for businesses. Some of the most notable new fiscal measures include the following: the definition of a national budget for the SEZ tax credit for the South; the refinancing of the so-called “Nuova Sabatini” and the rearrangement of Development Contracts relating to industrial development projects.
1.8 billion Extra-budget to fund SEZ tax credit – The incentive goes to companies investing in capital goods intended for production facilities located in southern Italy ZES. Particularly, the tax credit favours companies purchasing new capital goods for production facilities located in the regions of Campania, Apulia, Basilicata, Calabria, Sicily, Molise, Sardinia and Abruzzo. The amount of the incentive is up to 20 percent for small companies, 15 percent for medium-sized companies and 10 percent for large companies.
“Nuova Sabatini” – This incentive is a subsidized financing measure designed to facilitate companies' access to credit. Particularly, it aims to improve the competitiveness of the country's productive firms. The measure received a refinancing of 100 million euros with the Budget Law 2024. The New Sabatini, or Industry 4.0, is certainly an excellent fiscal vehicle for companies investing in new equipment, machinery and software. Through the financing, firms can obtain the resources needed for purchases made to innovate firms’ production division.
The more you hire the less you pay Bonus – Thanks to this measure, employers con benefit of higher deductions, from 120 percent up to 130 percent, for permanent hires of young people, women, workers in disadvantaged categories and former citizenship income recipients. The new Budget law has anticipated 1.3 billion to fund the relief.
Industrial development contracts – The Development Contracts, constitutes the main national measure to support the realization of large investments and the implementation of national industrial policies (investments exceeding 20 million euros), whose management is entrusted to Invitalia, the Italian agency entrust for governing and monitoring investments.
Stefano Latini