The Council of Ministers approved a package, on 27 July 2016, of tax incentives intended to boost innovative and start-up companies.
The incentives include the package of an exemption of up to 50% of the taxable income of the investor for investments made in innovative and start-up companies. But the exemption is limited to EUR 150,000. However, the discount may be allocated and distributed up to 5 years later. The investment can be made both directly into a company and via an investment fund.
The definition of the term “innovative firm” is also broadened which was previously criticized as being overly restrictive and covering only firms engaged in specific areas of research and development. The new definition permits more fields of technology and innovation to be covered under its scope.
The incentives will be implemented upon the approval of the bill by the parliament.
