New incentives for those investing in southern Italy

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Here are the tax and administrative facilities in the Special Economic Zones to help the development of the territory

With the publication in the Official Gazette of the Decree of the President of the Council of Ministers n. 12/2018, was approved the regulation for the establishment in the South of the so-called Special Economic Zones, areas of the South connected to port areas, in which companies will benefit from special incentives aimed at creating the most profitable conditions for the development of territory. “Within these geographically demarcated areas, established to attract greater foreign investment and to boost the competitiveness of the ports of the southern regions, more liberal economic laws apply than those generally present in the country in which they are established”, explains the adv. Marco Esposito, specialized in customs legislation, owner of the prestigious law firm of the same name, with offices in Salerno, Naples and Rome.

Attorney Esposito, can you summarize the benefits expected for companies located within the called Special Economic Zones?

The benefits relate to the access to a tax credit for maxi investments up to 50 million (normally it is 15 million for large companies), the halving of the time for authorizations and the reduction of administrative burdens and instructors. Who governs the SEZ can also ask the executive to exercise substitutive power.

What are the conditions for the recognition of such facilities?

Companies must keep the assets in the Special Economic Zones for at least five years after the completion of the investment subject to the benefits, under penalty of revocation of the benefits granted and enjoyed and must not be liquidated.

More info (info@espositostudiolegale.com) (www.espositostudiolegale.com)

by Roberta Imbimbo