Italian New Patent Box: the tax benefit for companies investing in Innovation
The Patent Box is an optional tax regime (tax relief) for Innovation through Intellectual Property Assets, combinable with other tax credits. It is valid for 5 years, renewable, in force in Italy since 2015 (Old Patent Box). The 2022 Budget Law (effective from February 2022) issued the New Patent Box, which greatly changed the previous regulation, modifying its purposes, structure and functioning. Currently, it is a subsidy based on R&D Costs relating to IPR (Intellectual Property Rights) to the extent of 110%: these are all those costs incurred in carrying out the company's Relevant Activities involving the development, growth, maintenance protection and exploitation of specific IPRs.