The Italian Revenue Agency has announced the issuance of Circular No. 14/E of 17 May 2022, which clarifies changes made by the 2022 Budget Law in respect of various tax credits. Some of the key points of the circular are summarized as follows.
Tax Credit for Investments in New Business Assets
The 2022 Budget Law extended and reformulated the tax credit for investments in new business assets (capital goods) by resident companies and permanent establishments of foreign entities related to…