Executive summary
The Italian Tax Authorities issued implementing instructions (Instructions) in February 2022 (protocol n. 48243/2022) on the new patent box regime that was introduced by Law Decree n. 146 on 21 October 20211 (as modified by 2022 Budget Law2).
Under the new patent box regime, the amount of qualifying research and development (R&D) expenses incurred in relation to qualifying intellectual property (IP) may be recognized for tax purposes for an amount equal to 210% of the re…