On 27 May 2022, the Budget for 2022 has passed by the parliament. The budget includes the following tax-related measures:
- The Budget bill increases the exemption of qualifying taxable IP income under the patent box regime from 50% to 85%;
- Expense restrictions are introduced, prohibiting the deduction of expenses incurred by companies that have not submitted a declaration of commencement of activity;
- The special payment on account rule (pagamento especial por conta), which was calculated at 1% of the previous year’s turnover (minimum EUR 850 and maximum EUR 70,000), will be abolished; and
- The budget measures also include a new tax incentive scheme for recovery. The scheme provides qualifying corporate taxpayers with an investment incentive for eligible capital expenditures of up to €5 million on qualifying tangible and intangible assets during the period 1 July through 31 December 2022.
