The Italian tax authorities recently issued a circular concerning a regional tax credit provided for investments in new assets from 1 January 2016 to 31 December 2019. The credit amount depends on the size of the enterprise as follows:
- 20% for qualifying small enterprises - annual turnover or balance sheet total less than EUR 10 million and less than 50 employees;
- 15% for qualifying medium enterprises - annual turnover less than EUR 50 million or balance sheet total less than EUR 43 million …