On 12 December 2024, the Revenue Agency announced the tax credit percentages that can be used by beneficiary companies for investments made between 1 January and 15 November 2024 in Special Economic Zones (SEZs). Surprisingly, the recognized percentage is equal to 100% of the requested creditalso for additional investments compared to those initially communicated.
But how do the credit access mechanisms work and what are the opportunities for companies operating in these strategic areas?
Read on to find out everything you need to know.
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The procedures for accessing the tax credit
With the Omnibus Decree (Legislative Decree no. 113/24)it was established that the companies involved had to send a supplementary communication to the Revenue Agency between November 18 and December 2, 2024. This communication certified the actual realization of the investments within the deadline November 15, 2024under penalty of exclusion from the benefit.
In addition to the investments stated above, the following October Tax Decree (Legislative Decree no. 155/2024) has allowed businesses to include new investments or increases compared to those already communicated, accompanied by the evidentiary documentation and the amount of the greater credit accrued. The Agency then evaluated the requests, guaranteeing credit also for these further investments.
The tax credit intended for investments made in Special Economic Zones (SEZs) it is based on a fair and sustainable distribution system, with particular attention to the management of the overall budget.
THE’Revenue Agencywith the provision of 12 December 2024, confirmed that the percentage of tax credit actually usable by economic operators was equal to 100% of the requested amountensuring full coverage also for supplementary projects. Let’s see in detail how this result was achieved and what opportunities remain available.
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The overall budget and allocation of resources
The maximum spending limit for investments in SEZs has been set at 3,270 million eurosa significant amount to support the economic and productive relaunch of the areas affected. Against this budget, the companies presented communications which overall amounted to approximately 2,336 million eurosthus leaving a margin of approximately 933 million euros still available.
This budget surplus allowed the Agency to guarantee the 100% of the tax credit requestednot only for the projects initially communicated, but also for those additional or greater than previously declared.
This result highlights an optimal use of resources, avoiding proportional cuts or reductions in percentages of use.
Supplementary Investments and Greater Credits Required
The opportunity to declare additional investments was introduced by October Tax Decree (Legislative Decree no. 155/2024). The beneficiary companies were able to integrate the communications already presented, specifying new investments made between January 1, 2024 and November 15, 2024or by increasing the amount of those already declared.
Requests for these additional investments totaled approx 214 million eurosa figure largely covered by residual resources. The possibility of obtaining 100% of the credit also for these additional initiatives represents a concrete incentive for companies to invest further in development projects in the SEZs.
With 933 million euros still availableSEZs remain an interesting opportunity for companies intending to start new projects or complete those already underway. This margin could encourage a new round of incentives, offering further possibilities for micro, small, medium and large businesses.
