Issues 2022 Budget Law
01 Jan 2022
On 30 December 2021, the Italian Government adopted Law n. 234 (Budget Law). It introduces changes to the patent box regime increasing the extra deduction of the eligible R&D expenses from 90% to 110%; extends the tax credit for new high-tech investments to assets purchased during the period from 1 January 2023 to 30 June 2026 (ranging from 5% to 20%); extends the tax credit for R&D activities up to 31 December 2031; introduces tax incentives for new hirings in a form of an exemption from paying social contributions of up to EUR 6,000 per year and a tax relief equal to 100% of contributions for some contracts. The Budget Law has come into effect on 1st of January 2022.
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Type:
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Treatment and operation (Corporate taxation, Labor regulation, Intellectual property regulation)
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Promotion and facilitation (Investment incentives)
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Industry:
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Not industry specific
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Services (Scientific research and development, Other professional, scientific and technical activities, Other service activities)
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Sources:
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Normattiva - official legal database, LEGGE 30 dicembre 2021, n. 234, https://www.normattiva.it/atto/caricaDettaglioAtto?atto.dataPubblicazioneGazzetta=2021-12-31&atto.codiceRedazionale=21G00256&atto.articolo.numero=0&atto.articolo.sottoArticolo=1&atto.articolo.sottoArticolo1=10&qId=4b503dc3-5389-48bc-b065-f631711e2dd2&tabID=0.5315612189840637&title=lbl.dettaglioAtto, 01 Jan 2022
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Global tax news, Italy issues 2022 Budget Law, https://globaltaxnews.ey.com/news/2022-5054-italy-issues-2022-budget-law, 14 Jan 2022
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Lexology, Italy: Budget Law For 2022 - employment and social security related measures, https://www.lexology.com/library/detail.aspx?g=94606f77-32f3-46e4-9c90-8f419650c4b8&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2022-01-20&utm_term=, 14 Jan 2022
