An English version of the new rules by Italian Inland Revenue on tax breaks for startups

The Italian Inland Revenue recently published an official English version of its Circular n. 16/E about tax breaks for Italian start-up companies and certified incubators (download here the italian inland Revenue Circular in English). The Circular specifies how and when tax breaks might be applied.

Such tax breaks have been introduces in the last two years by the Italian Govermentas part of an organic framework of rules concerning the setup and development of innovative startup companies  (see a previous post by BeBeez).

Paragraph 1 of article 25 of Decree-Law no. 179 of 2012, which contains programmatic provisions, identifies, in particular, “sustainable growth”, “technological development”, “new entrepreneurship” and “employment” as the key objectives pursued by the entire corpus of norms, with the ultimate goal of “contributing to the development of a new entrepreneurial culture and to the creation of a more favourable context for innovation, as well as promoting greater social mobility and attracting talents, innovative enterprises and foreign capital to Italy“.