The Single Special Economic Zone (Single SEZ)

ZESs are a key element of a unified strategy to revitalize Southern Italy, aiming to attract productive investment and improve the attractiveness of economically disadvantaged areas.

On Jan. 1, 2024, with Decree-Law No. 124/2023, converted into Law 162/2023, è the Single Special Economic Zone for the Mezzogiorno was established, which has a three-year duration, encompassing the 8 regions of Molise, Campania, Calabria, Apulia, Sicily, Basilicata, Abruzzo and Sardinia.

The creation of a single SEZ allows for the enhancement of its sectoral and territorial articulations and for the recognition of equal chances for development in the southern territory.

In order to obtain the’single authorization the competent platform è the Single Digital Desk ZES – S.U.D ZES, established on January 1° 2024, using the specific forms and giving the indication of the region in which it is intended to carry out the’establishment of industrial, production and logistics activities or for the’start-up of an’economic activity.

A Business Plan that determines the project and employment spillover è necessary to carry out an investment project.

È issued a receipt after the submission of the application with the attached documents, which certifies the deadline within which the’administration’is obliged to respond, or the deadline within which the silence of the’administration is equivalent to the’acceptance of the’application.

The tax credit è granted to enterprises, regardless of legal form and accounting regime adopted, already operating or setting up in the single SEZ.

The tax credit does not apply to entities operating in the steel, coal and lignite industries, transportation, excluding the warehousing and transportation support sectors, and related infrastructure, energy production, storage, transmission and distribution and energy infrastructure, broadband as well as credit, financial and insurance sectors.

Facilitation does not apply to enterprises in difficulty, which are in a state of judicial liquidation or dissolution.

È was published in the Official Gazette No. 117 of May 21, 2024, the implementing decree that defines the modalities for access to the tax credit and the procedure to be followed for its use.

Businesses that intend to set up industrial, manufacturing and logistics activities in the single SEZ can benefit from a simplification of administrative and bureaucratic procedures and a tax credit.

The Special Economic Zone è a zone where economic and business activities can benefit from advantageous financial and administrative conditions for investment and business development, benefiting:

Of a recognition of tax credit in relation to the’acquisition of capital goods intended for production facilities located in the eight Regions.

Of administrative simplifications involving a reduction in the time of preliminary investigation, thus allowing for greater rapidity’in obtaining “the’single” authorization’to start the’activity, it issued by the ZES Mission Structure, at the Presidency of the Council of Ministers.

The tax credit is commensurate with respect to the amount of investments made from January 1, 2024 to November 15, 2024 in the maximum limit, with respect to each investment project to an amount of 100 million euros. Investments of less than 200,000 euros are not eligible for tax relief. For assets acquired under lease contracts, the provisions do not apply even if redemption is exercised.

The measure July 22, 2024 (Prot. No. 305765/2024, available on the ADE) the percentage of the tax credit for investments in the single SEZ, actually usable by each beneficiary, è equal to 17.6668% of the requested bonus.

The tax credit è granted to the maximum extent allowed by the Regional Aid Map 2022-2027. In addition, è it is granted to small, medium and large enterprises and the intensity è is determined by the area where è the economic structure is located, the size of the enterprise and the’extentà of eligible constituents. The following intensities are determined for large enterprises:

• To the extent of 40% of the costs incurred in relation to eligible investments in the regions of Calabria, Campania, Puglia and Sicily, and with the costs not exceeding 50 million euros;

• To the extent of 30% of costs incurred in relation to eligible investments in the regions of Basilicata, Molise and Sardinia;

• To the maximum extent, 50% and 40%, for investments made in the territories identified for the purpose of support of the Fund for a Just Transition in the regions of Puglia and Sardinia;

• To the extent of 15% of costs incurred in relation to eligible investments in the assisted areas of the Abruzzo region.

Regarding SMEs, the ceilings are increased by 10 percentage points for medium-sized enterprises and 20 percentage points for small enterprises, for initial investments with eligible costs up to 50 million euros.

The tax credit can be cumulated with de minimis aid and other state aid aimed at the same eligible costs, with the limit that such cumulation does not exceed the highest amount of aid allowed by the relevant European frameworks (Art. 14, paragraph 14, EU Regulation 651/2014). The tax credit can be used in compensation by submitting the F24 form at the Agenzia delle Entrate.