Tax credit and Destination Italy
Are you an entrepreneur, and you want to know how to cut taxes which weigh on your firm, in agreement with the current legislation?
The good news is that today it is possible, but just a few know how.
NEW DECREE-LAW
In December 2013 the decree-law n145, called “Destination Italy”, has been issued and it provides in its article 3 the possibility of:
Reducing the moment of incurring a VAT tax liability;
Increasing one’s profits.
Thanks to the above-mentioned art. 3 of this Decree, you can achieve development projects of your firm and benefit from tax bonus, by strengthening the liquid assets for production activities or investment in Export and Internationalisation shares or something else.
HERE’S HOW TO DO
It is possible to reduce taxation generating an bigger cash flow, through the tax credit deriving from investment in research and development projects, even in your own company.
Because of this tax bonus, for instance, you will be able to invest in:
- export operations and internationalisation;
- marketing and market analysis;
- improvement of your organisation, processes, products and services;
- training projects to develop the internal capabilities of your company;
- coaching pathways to increase the performances of the key figures;
- adjustment or improvement of the safety at work;
and much more.
IN OTHER WORDS, BY INVESTING IN INNOVATION, RESEARCH AND DEVELOPMENT, YOU WILL OBTAIN A BIGGER CASH FLOW WITH A SAVING ON THE MOMENT OF INCURRING A VAT TAX LIABILITY. ALL THIS IS LAID DOWN BY LEGISLATION.
Can it interest you ?
If so, we recommend you, having regard newly enacted legislation, to rely on experts with an in-depth knowledge of the fiscal framework, to avoid unnecessary bureaucratic steps and misinterpretation.
CONTACT US through the contact format, by supplying your personal information, you will be contacted back as soon as possible to set a phone or Skype appointment.
We will provide you information / clarification to the Universities where it is possible to start a research project, by facilitating you to get an appointment with the University contact person, and then we will help you to choose a research project compatible with the business objectives.
FAQ Frequently asked questions
QUESTION: is it possible to have indications on the relevant legislation?
ANSWER: in the field of tax credit, for the company benefit through university research, legislation refers to:
- Decree-law of 23 December 2013, Art. 3, n. 145 (GU n.300 of 23/12/2013);
- Memorandum related to the deduction of cost covered by companies or institutions in favour of university research establishments and/or incomes linked to Research;
- Law n. 476 of 13 August 1984;
- DPR of 22 December 1986 n. 917 (TUIR) and following amendments / adjustments;
- Prime Ministerial Decree n. 593 of 30 December 1993;
- Finance Act of 23 December 2005 n. 266, Art. 1 comma 353, published in OJ on 29/12/2005 n. 302;
- Law of 24 December 2007, n. 244, Art.1, subparagraph 50 and 51;
- Law of 30/12/2010 n. 240;
Prospectus and summary of the regulations deriving from dormant holdings and from business interests:
- Civil Code rules in Art. 2549 and 2554
- TIUR in Art. 44, 45, 46, 47, 48, 49;
- Circular of 16 June 2004 n. 26/E of the Internal Revenue Service;
- Resolution n. 62 of 16 May 2005 of the Internal Revenue Service.
QUESTION: what is a tax credit?
ANSWER: tax credit is a credit of which a taxpayer is owner towards a State treasury, in this case Italy. It refers to a tax advantage, which reduces the tax liability; it is recognised under specific conditions and it allows recovery of part of tax.
QUESTION: what is meant by mutual interest contract?
ANSWER: by mutual interest contract is meant the possibility for a company to establish with a University an agreement to develop university research, and in the meanwhile to generate for the company a profit. This opportunity is equal to the one carried out by the Banca d’Italia towards its own partners, that is towards commercial and investment banks, but also towards INPS, INAIL, or the different insurances;
The mutual interest contract and the dormant holdings are regulated by Civil Code articles 2549 et seq.; they represent a refined financial instrument for the companies, in place of the operations of raising new equity capital through widening of the corporate base or through indebtedness towards banks or towards institutions external to the company.
QUESTION: Which are the involved and active institutions in these projects ?
ANSWER: There are many Institutes and some of them prefer certain types of research or others that choose companies from specific product sectors. On the basis of your company features we will direct you towards the most suitable university.
QUESTION: Can in-house training be included in the research projects ?
ANSWER: Staff training of the companies involved in research is included in the project, in order to evaluate the effects of the activities in the framework of the organisations, namely during the experimental phase, including safety at work.
QUESTION: Which are the eligible research areas ?
ANSWER: the following are some guidelines, non-exhaustive, as an example:
- Political Economy and Taxation: research to activate new markets and feasibility analysis of projects, tax planning and European/International tax planning, research on how register specific patents, etc.;
- Commercial Law: research on Internationalisation and included country risk and country profile feasibility analysis; investment protection and legislation analysis of the foreign Country;
- Languages: research relating to trade relations and to the effectiveness of languages in the negotiations; translations; trade rules, laws, import – export and studies applied to foreign countries;
- Business organisation and Work Psychology: in the framework of organisations, study of the internal dynamics and productivity improvement; coaching and counselling; intergenerational transfers; study oh non-monetary benefits; evaluation of stress-related risk; analysis of the business critical areas;
- Sociology: study of new products; market position and studies of marketing and communication; improvement of the company mood and study of the inter-company or intra-company relations; continuing behavioural and management training;
- Company structure: study of organisation and function charts, business quality systems, ethical code, analysis of workload and organisational flows; management control; project management; studies for the saving in the company, resources redeployment, in the context of the company growth;
- Labour Legislation: Business Safety Management Systems (SGSA) and implementation; union relation and application of the Collective National Employment Contract; institutional relations of the company with external organisations; labour cost;
- Informatics: from the implementation of IT systems, to the study on effectiveness of applications or IT solutions; software implementation; productivity test / cost reduction / effectiveness of already installed software;
QUESTION: What kind of companies can benefit from this decree ?
ANSWER: All the companies that have profits to be invested.
QUESTION: Are there minimum amounts to be invested?
ANSWER: It is possible to invest the amount that the company wants.
QUESTION: Are the profits related to the investment entirely and immediately available ?
ANSWER: tax credit created will be collected in the following 3 years, and it will be also able to be managed on TVA payments.
QUESTION: What do I have to do to participate ?
ANSWER: Fill in the form with your information, we will contact you back for a phone appointment and after the taking in charge, at the chosen University.
