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Italy Launches Consultation On Patent Box Rules

by Ulrika Lomas, Tax-News.com, Brussels

20 February 2020


On February 10, 2020, the Italian tax agency commenced a short consultation on the rules surrounding the patent box self-assessment regime.

The regime, effective from the beginning of the year, increases the amount of tax relief to 50 percent of qualifying expenditure against corporate income tax and regional tax liability, but ensures that the tax concession is available only for activities undertaken in Italy by resident individuals or corporations, or non-residents with a permanent establishment.

The self-assessment regime allows taxpayers to opt to calculate tax payable under the patent box system themselves, instead of seeking a ruling from the tax agency. The regime is intended to expedite the process of claiming the tax relief, although taxpayers must comply with certain documentation requirements.

The consultation document, released in Italian, contains an explanation of the self-assessment regime and can be found on the Italian tax agency's website. The consultation period concludes on February 17, 2020.

TAGS: individuals | tax | small business | business | tax incentives | intellectual property | Italy | tax breaks | BEPS

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