Law A.C. 107-B introduced significant novelties for those wishing to invest in innovative start-ups and SMEs. The main objective is to make the private investment market in Italy more attractive by stimulating the growth of start-ups through a series of tax incentives.
The Main Novelties of the Reform
The legislation aims to facilitate access to capital for young Italian companies and to expand opportunities for private investors. Here are the main changes introduced:
- Increase in Capital for Simple Investment Companies (SIS
) The maximum net worth for SIS increases from EUR 25 million to EUR 50 million. This change allows more investors to access instruments dedicated to unlisted SMEs, encouraging structural investments in innovative companies. - Extension of the Assigned Assets Discipline
The reform extends the possibilities for the use of earmarked assets, favouring operations aimed at strengthening the financial resources of enterprises. This support facilitates the creation of networks and strategic partnerships, crucial for the growth of technology SMEs. - Increased Tax Incentives for Investors
Investors in innovative start-ups or SMEs will be able to take advantage of a 50 per cent IRPEF deduction on their investment in share capital. For those who cannot take advantage of the full deduction, the excess can be converted into a tax credit. The benefits will be available from the tax period after 31 December 2023. - Capital Gains Tax Exemptions
Capital gains from the sale of shares in innovative SMEs, held for at least three years and acquired between 1 June 2021 and 31 December 2025, will be exempt from taxation, provided certain European research and development requirements are met. This favours strategic and long-term investments. - Capital Gain Exemptions
Capital gains obtained through funds investing in innovative start-ups and SMEs will not be taxed for individuals, making this type of investment particularly attractive.
New Support for Startup Incubators
Following the entry into force of the law, the Ministry of Universities should define the criteria for the registration of research laboratories in a dedicated section of the National Research Register. This measure encourages synergy between innovative companies and research institutes, strengthening the entire start-up ecosystem.
A New Horizon for Investment in Innovation
Law A.C. 107-B represents a step forward in supporting Italian start-ups. The measures adopted encourage the participation of private capital, accelerating the development of new enterprises and supporting key sectors for the country's economy. By introducing tax breaks and broadening investment options, promising prospects are opened up for the future of innovation in Italy.