Italy issued Ministerial Decree on 18 September 2024, which was published in the Official Gazette on 11 November 2024, outlining the regulations for a tax credit for specific investments in the “Special Economic Zone for Southern Italy—Single ZES”.

The tax credit applies to investments made between 16 May 2024 and 15 November 2024, provided that the investments are used for purchasing land, machinery, equipment and constructing or expanding production plants and facilities.

The incentive is available for agricultural, fishery, aquaculture, and forestry businesses.  This tax credit applies to the regions of Abruzzo, Basilicata, Calabria, Campania, Molise, Puglia, Sardinia, and Sicily.

Earlier, on 6 November 2024, Italy’s tax authorities updated the model form for supplementary communication that qualifying taxpayers need to complete to receive tax credit benefits for investments in single special economic zones.