'Tremonti III' measures to promote the recovery of the Italian machine tool industry

by:Gewinn     2022-06-02
Recently, the Italian cabinet approved legislation on tax deductions for investment in high-end machine tools. The effectiveness of this measure will continue until June 30, 2010, which is an excellent measure to promote the economic recovery of the Italian machine tool market, the second largest machine tool consumer market in Europe and the fifth largest in the world. From July 1, 2009 to June 30, 2010, Italian companies purchasing new machine tools for production were entitled to request a deduction of 50% of the value of the machine tool from their taxable income when filing their 2010 tax returns. If there is no profit, the tax will be reduced for the next 5 years. In 1994 and 2001 this legislation had a very positive effect and is now defined as 'Tremonti III' and specifically targets investments in machine tools. Therefore, it is bound to strongly drive the demand for Italian machine tools.
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