The Italian Revenue Agency has published Circular No. 9/E of 23 July 2021, which provides guidance on the new tax credit incentive for investment in new business assets as provided by the Budget Law for 2021 (Law No. 178 of 30 December 2020). This includes guidance on qualifying beneficiaries, qualifying assets and credit rates, and the offset of the tax credits.
As previously reported, the tax credit incentive is provided for investment in new business assets by resident companies and perm…