Commission approves tax relief for Italian SMEs investing in innovative IT
The European Commission has approved an Italian scheme for supporting small and medium sized enterprises (SMEs) investing in information technology projects through tax breaks. The initiative was assessed by the Commission in accordance with state aid rules: 'Given that aid for research and development for SMEs is of utmost importance because of the structural disadvantages that SMEs face in gaining access to new technological developments and considering the central role of innovation to the growth of output and productivity within the framework of the new strategic goals set for the current decade by the Lisbon strategy, the Commission considered that, in line with its earlier practice, the tax expenditure available under this aid scheme is compatible with state aid rules,' concluded the Commission. The aim of the scheme, the Tecno-Tremonti Law, is to promote synergies between SMEs with a view to innovative investment in information technology. SMEs must pool their resources in newly created consortia of at least ten partners in order to benefit from the scheme. The consortium must then invest in innovative information technology projects. The Italian Treasury will then grant a tax premium to participating SMEs by excluding a variable amount from their taxable income. The tax relief could apply to up to 40 per cent of costs incurred as part of the information technology projects. The scheme will have an estimated total budget of 208 million euro.
Kraje
Italy