Research & Development Tax Credit, Technological Innovation, Design and Aesthetic Creation
Our firm provides the necessary consulting and assistance for calculating the tax credit related to costs incurred for Research & Development, Technological Innovation, Design, and Aesthetic Creation. We also handle the preparation of the documentation required for submission in the event of an audit by the Tax Authorities.
As established by the 2020 Budget Law (Article 1, paragraph 200, Law 160/2019), R&D investments made starting from the 2020 tax period benefit from a completely revised tax credit system in terms of calculation, the percentage of relief, and usage, compared to investments made up to December 31, 2019.
Eligible R&D activities include fundamental research, industrial research, and experimental development in the scientific or technological fields, as defined in the European Commission's communication (2014/C 198/01) on state aid for R&D&I.
Additionally, technological innovation activities aimed at developing new or significantly improved products or production processes are eligible for the tax credit.
The same mechanism also rewards investments in ecological transition, technological innovation 4.0, and other innovative activities. Finally, design and aesthetic creation activities carried out by companies in sectors such as textiles, fashion, footwear, eyewear, jewelry, furniture, and ceramics for the conception and realization of new products and collections are eligible for the tax credit.
The Decree of the Ministry of Economic Development of May 26, 2020, set the criteria for the application of this new R&D tax relief mechanism.
On July 4, 2024, the MIMIT issued guidelines for qualifying R&D, innovation, design, and aesthetic creation activities.
The specific services provided by our firm include:
As established by the 2020 Budget Law (Article 1, paragraph 200, Law 160/2019), R&D investments made starting from the 2020 tax period benefit from a completely revised tax credit system in terms of calculation, the percentage of relief, and usage, compared to investments made up to December 31, 2019.
Eligible R&D activities include fundamental research, industrial research, and experimental development in the scientific or technological fields, as defined in the European Commission's communication (2014/C 198/01) on state aid for R&D&I.
Additionally, technological innovation activities aimed at developing new or significantly improved products or production processes are eligible for the tax credit.
The same mechanism also rewards investments in ecological transition, technological innovation 4.0, and other innovative activities. Finally, design and aesthetic creation activities carried out by companies in sectors such as textiles, fashion, footwear, eyewear, jewelry, furniture, and ceramics for the conception and realization of new products and collections are eligible for the tax credit.
The Decree of the Ministry of Economic Development of May 26, 2020, set the criteria for the application of this new R&D tax relief mechanism.
On July 4, 2024, the MIMIT issued guidelines for qualifying R&D, innovation, design, and aesthetic creation activities.
The specific services provided by our firm include:
- Analysis of expenses incurred by the company that qualify as R&D under DL 145/2013.
- Assessment of the types of eligible expenses, calculation of eligible costs, and review of the documentation required by the current regulations.
- Calculation of the tax credit to be offset using the F24 form.
- Preparation of the financial certification by a Legal Auditor.
- Compilation of the documentation to be kept on company premises.
For further information, contact c.orsini@studiassociato.it
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