Who can make use of the Tecno-Tremonti tax incentives. Instructions for use for the new tax incentive, which this year favours Companies’ technological projects and development. Brussels permitting...
The package of regulations connected to the 2004 budget law includes a series of tax incentives aimed at encouraging companies’ development and growth (in the same way as with the Tremonti-bis and Tremonti-sud incentives) These tax bonuses are recognised to all those making investments in the following fields:
research and development projects that can be accounted for as intangible assets (for example: studies, patents, and the creation of protoypes for the launch of new products/services);
the creation of synergies in the IT field amongst small and medium-sized enterprise (organisation of pools or associations for IT innovation);
participation in trade fairs abroad;
organisation of work experience initiatives for secondary school or university students;
quotation on EU stock exchanges;
On their 2004 Tax Return Form, taxpayers found a space dedicated to the Tecno-Tremonti provision approved with the 2004 Budget Law, which encourages with tax deductions those companies that invest to make their business grow. One income declaration form (form RJ) requests a series of information required to calculate the bonus due. With a non-negligible warning: as explained by the instructions for filling out the space, these forms of incentive (except the bonus for work experience initiatives) are not yet in force. This uncertainty derives from the lack of approval by the European Commission, which has asked the Italian Government to provided further clarifications on the matter. In order to protect the free competition of enterprise, within the community for which it is Guarantor, the EC is called on to approve any form of aid that the individual Member State governments give to their enterprises: approval is only granted when the incentives, especially those of a fiscal nature, do not restrict free competition and are not merely poorly-concealed state aid. This is why, without approval, any companies that have already made use of the benefit will be obliged to return the sum. To date this approval is still absent for four of the five types. However, some believe that eventually the Tecno-Tremonti law will be approved, as in the past for similar incentives, Tremonti-bis and Tremonti-sud.
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