TAX INCENTIVES 2020-2023

What does change with the 2020 budget law?

With the 2020 budget law the national plan Industry 4.0 changes into a new transitional national plan 4.0 based on the Italian Recovery Fund. The investment consists in about 24 billion euros from 2020 to june 2023. Just like the previous one, for the purchase contracts defined by 12/31/2022, it is possible to get benefit from the credit with just the payment of a deposit of at least 20% of the amount and delivery of the goods in the following 6 months (so, by june 2023). The goal is to stimulate private investments and give stability and certainty to the companies.

Here are some important news:

• For the investments in capital goods “ex super” and not 4.0 intangible assets made in 2021 from entities with incomes or fees below 5 billion euros, the tax credit id usable in a year; it’s accepted the immediate compensation (from the current year) of the credit relative to the investments in capital goods.

• For all the credit taxes on the material capital goods, the usability of the credits has been reduced to 3 years instead of the 5 years expected from the current legislation. – For expenditure on 4.0 capital goods below 2,5 million euros: new rate at 50% in 2021 and 40% in 2022. For expenditure over 2,5 million Euros and up to 10 mln: new rate at 30% in 2021 and 20% in 2022. For expenditure over 10 mln Euros and up to 20 millions it has been introduced a new level: rate at 10% in 2021 and in 2022.

• For the 4.0 intangible assets there is an increment from 15% to 20% with a ceiling that goes from 700.000 euros to 1 million Euros. The credit tax is commensurate to the rate of the total cost of the goods, in the maximum limit, for each investment project, equal to 3 million Euros for small industries, to 10 million Euros for medium industries and 15 million Euros for big industries.

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