Promote startups and innovative small and medium-sized enterprises through tax breaks, investment and employment incentives and simplification measures. It is discussed in the House, in the Productive Activities Committee.
In Italy, the first national legislation on innovative companies was introduced in 2012. Since then, the number of innovative Italian startups and small and medium-sized enterprises has increased considerably and therefore the objective of the bill (first signatory Mattia Mor, Iv ) being examined by the commission is to "further improve the current regulatory framework", updating it to the new market realities.
In detail, in order to increase the tax breaks currently in force it is expected that investors (individuals or companies) can tax deduct 70 percent of their investment in startups companies, innovative SMEs, venture capital funds, funds promoted by certified incubators or business angel networks (i.e. associations of informal investors investing in the seed stage of start-ups, also known as «angel networks»), companies of investment, up to a maximum of 2 million euros for natural persons and 4 million euros for companies.
The bill also establishes:
- the exemption from taxation for capital gains deriving from shareholdings to the share capital of innovative startups or innovative SMEs (capital gain exemption),
- the tax deductibility of 50 per cent of realized capital losses,
- the tax deductibility of 70 percent of the investment made for the acquisition of innovative startups or SMEs within four years of the sale,
- 90 percent tax deductibility of the investment made for the acquisition of innovative startups or innovative SMEs subject to bankruptcy proceedings, within four years of the sale, provided that the employment relationship of the employees continues with the transferee and the workers retain all rights deriving therefrom.
Not only that: to encourage and facilitate new employment, the measure provides the de-contribution for the permanent hiring of new employees.
For the development of innovative startups, a Fund will be set up with an endowment of 8 million euros for this year and 10 million for 2021 aimed at granting:
a) non-repayable loans for investment projects carried out by non-resident subjects who intend to set up an innovative startup in the territory of the State, for an amount not exceeding 100.000 euros for the single investment project;
b) co-financing of 50 per cent of the trade fair initiatives of local authorities in the field of digital technology and innovative startups, also in collaboration with international entities.
