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IFR – The New Tax Benefit

The State Budget for 2022 brings a new tax benefit. The IFR – Fiscal Incentive to Recovery

The IFR Tax Benefit

The IFR translates into a tax credit created for investment expenses incurred by companies during the second half of 2022 and with a maximum limit of €5 million, allowing a deduction from IRC collection of up to 25% of investment expenses.

The tax benefit to be granted concerns a deduction to the taxable income calculated on the basis of the investments in eligible assets and allocated to operation between 1 July and 31 December 2022.

Eligible Investment Expenditure

For the purposes of the IFR, capital expenditures in assets allocated to operation are considered to be those related to tangible fixed assets and non-consumable biological assets acquired new and which enter into operation or use by the end of the tax period beginning on or after 1 January 2022. Also eligible are investment expenses in intangible assets subject to depreciation, such as development projects and industrial property – trademarks, permits, production processes, models or other similar rights, acquired for consideration and with a defined useful life, provided that, in any case, they are not acquired from entities with which there are special relations.

Access Conditions

The beneficiaries of this measure may be companies of any size subject to corporate income tax and whose main activity is of a commercial, industrial or agricultural nature, provided they do not terminate employment or distribute profits for three years. In addition to these requirements, in order to benefit from this measure, companies must have their tax situation in order, and have organised accounts and their profit cannot be determined by indirect methods.

This benefit can be used for 6 years.

If you wish to obtain more information, please contact us.