Law Decree No. 73 of May 25, 2021, published in the Official Gazette No. 123 of May 25, 2021, (so called “Sostegni-Bis Decree”) introduces an exemption on capital gains realized by individuals upon the transfer of (i) innovative start-up companies or (ii) innovative small and medium entities (SMEs) or (iii) resident and non-resident entities to the extent the capital gain is reinvested in innovative start-up companies or innovative SMEs.
This provision seems in line with the tax measures indicated by the European Commission to foster investments in innovative start-up companies and SMEs and it is subject to the authorization of the European Commission.
Please note that the Sostegni-Bis Decree will need to be converted into law by the Italian Parliament within sixty days following its publication and it cannot be excluded that, during the conversion process, further amendments are approved by the Italian Parliament.
Leave A Comment