All expenses must be certified
by a Statutory Auditor
Receive your tax credit
and use it in your “F24”
What is the Tax Credit?
The Tax Credit is a tax relief through which the holder is a creditor of the State and can assert his/her credit to offset various debts, such as reducing the taxes to be paid to the Tax Authorities.
Who are the beneficiaries?
All companies can benefit, regardless of company size, legal form, sector and accounting regime adopted, regardless of the type of product or service provided.
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How much can I request?
The expenses for which you wish to apply the tax credit must be certified by a statutory auditor. A maximum of EUR 5,000 can be claimed for each tax period for which the benefit is to be claimed.
The application for a tax credit must be prepared by the date of approval of the financial statements for companies required to do so (joint-stock companies) or within 120 days of the end of the financial year for other companies.
Frequently Asked Questions
Which activities are eligible for tax credit?
The list of eligible activities essentially follows the “Definitions” in paragraph 1.3, point 15 of the current “Framework for State aid for research, development and innovation” set out in the Communication from the Commission (2014/C 198/01) of 27 June 2014 (published in OJEU C/198 of 27 June 2014) concerning, respectively:
Fundamental Research (letter m): acquisition of new knowledge and studies, without direct practical applications or uses. The implementing decree, article 2, paragraph 1, letter a), has expressly specified that “direct commercial uses” of the works and experiments relating to the research activity must not be envisaged;
Industrial Research Planned Industrial Research (letter q) and critical investigations aimed at acquiring new knowledge, to be used to develop new products, processes, services or for bringing about improvement of existing products, processes or services, including the creation of components of complex systems necessary for industrial research excluding prototypes;
Experimental Development Experimental Development (point j): Acquisition, combination, shaping and use of existing scientific, technological and business knowledge and skills for the purpose of producing plans, designs or drawings for new, modified or improved products, processes or services; production of prototypes that can be used for business purposes and pilot projects for technological or business experiments, when the prototype is necessarily the final commercial product and its manufacturing cost is too expensive to be used only for demonstration and validation purposes. Eligible activities also include the production and testing of products, processes and services, provided that they are not used or transformed for industrial applications or business purposes.
Research and development activities can also be carried out in areas other than science and technology (e.g., in the historical or sociological field).
Research and Development activities do not include routine or periodic changes made to products, production lines, manufacturing processes, existing services and other operations in progress, even if those changes may represent improvements.
On the other hand, process or product modifications that make significant changes or improvements to production lines and/or techniques or products (such as, for example, testing a new production line, modifying the technical and functional characteristics of a product) are eligible.
What benefits can I obtain?
Currently the tax credit allows, until the end of 2021, to deduct up to 50% of the expenses incurred during the year, increased compared to the average of the three previous tax years.
The eligible expenses are related to Research and Development for at least EUR 30,000, including:
- Qualified personnel, employees or independent contractors;
- Laboratory instruments and equipment (both newly acquired and used);
- Research contracts entered into with Universities, research bodies and other companies;
- Technical expertise in industrial property rights.
The credit can reach an amount of EUR 5 million per year from 2015 to 2021 and the best and most advantageous way to obtain it is to define the company’s planning over the years, with its adequate control.
How to calculate the Credit Tax?
The tax credit is calculated as follows:
50% of depreciation costs for the acquisition of laboratory instruments and equipment and for industrial property technical expertise related to industrial and biotechnological inventions;
50% limited to expenses for highly qualified personnel and extra muros research, such as research contracts entered into with universities, research bodies and innovative start-ups.