From 12 June 2024, companies located in the southern regions of Italy can access the contribution called “single SEZ tax credit”. This incentive, established by the Southern Decree and financed by the 2024 budget law, is intended for the acquisition of capital goods for production facilities located in the regions of Abruzzo, Campania, Puglia, Basilicata, Calabria, Sicily, Sardinia and Molise. The percentage of tax credit actually usable for 2024 has been set at 17.6668%, but it could change thanks to the additional funds allocated
by the government.
What is the ZES Unica Sud tax credit
The ZES tax credit is a tax advantage that allows companies to recover part of their investments in the form of a reduction in taxes. This incentive is aimed at all companies that invest in capital goods for production facilities located in the SEZ (Special Economic Zones) of the southern Italian regions. The objective is to promote the economic development of the South, facilitating the acquisition of equipment, machinery and buildings intended for
production.
How does the ZES 2024 tax credit work
The tax credit for the South works in the form of a tax credit. The beneficiary is granted a credit against the State, which can be used to offset tax debts and taxes. The details of its operation are clarified by the ministerial decree of 17 May 2024 and its use is subject to approval by the European Commission.
The tax credit can be used in compensation for the tax code ‘7034’, established by resolution no. 39/E of 22 July 2024. The maximum spending limit for each project is set at 100 million euros. Investments must be made between January 1, 2024 and November 15, 2024.
How to apply for the ZES tax credit
To obtain the tax credit, companies must communicate to the Revenue Agency the amount of eligible expenses incurred within the established deadlines. After confirming the amount of credit due, companies can use the bonus in compensation through the
F24 model.
The Revenue Agency has made available a specific communication model to request the single ZES tax credit. The communication must be sent exclusively electronically, using the dedicated software available on the Agency’s website
.
Deadlines and percentages of the ZES 2024 tax credit
The percentage of the investment tax credit in the single SEZ usable in 2024 is equal to 17.6668% of the requested bonus. However, with the refinancing decided by the government, it is possible that this percentage will be increased
.
Applications for 2024 had to be submitted by July 12, 2024. For those who have already sent the request, it will be necessary to submit a supplementary communication by December 2, 2024 to confirm the investments made
.
What does the ZES tax credit finance
The ZES tax credit finances the acquisition of capital goods, including machinery, plants and various equipment, intended for production facilities in the southern regions. Investments in capital properties and land are also eligible, as long as they do not exceed 50% of the total value of the
investment.
Requirements and conditions for accessing the ZES tax credit
The ZES tax credit is reserved for companies that operate in specific sectors and that comply with the requirements of European legislation on state aid. Companies in difficulty or in a state of liquidation, as well as those that operate in sectors such as the steel industry, transport and energy, are excluded from the benefit
.
Cases of revocation of the ZES tax credit
Beneficiary companies must maintain their business in the areas where the investment was made for at least 5 years. In case of non-compliance with this requirement, the tax credit may be revoked and the sums must
be returned.
Conclusion
The ZES 2024 tax credit represents a significant opportunity for companies in the Italian South. With careful management and meeting deadlines and requirements, companies can benefit from significant tax breaks for their investments
.