Laws, Competition Notices and a a lightweight tax Regime
South Tyrol is always looking for new innovators and business people - and it is doing that thanks to the many options and initiatives which makes it easier for people to invest. There are two main laws which form the basis of the business incentives rules.
Investment, training, export: incentives promoted by law no.4/1997
Business-oriented investments, training and consultation, the ability to reach foreign markets and by so doing to increase one’s international potential: these are the three main areas of interest covered by law no.4/1997, which was specifically developed to help business in this way. We suggest you read more about it if you are considering doing business in South Tyrol (see the page law no. 4.1997)
Promoting innovation: law no. 14/2006
Specific projects involving research and development, innovation (both withing a segment of an organisation or the organisation as a whole), feasibility studies and copyright issues: five different fields that can benefit from five different incentive schemes. You can find all necessary information by visiting the page dedicated to law no. 14/2006.
A third way to promote growth: competition notices
Another way to promote growth and innovation comes from the public competition notices which are periodically promoted by Bozen-Bolzano municipality. For instance, there is a competition notice on innovation currently running, that can be awarded to any projects focusing on research and development and promoting collaboration between businesses and research and development labs. There are incentives dedicated to this initiative and special costs (up to 50%) when employing qualified staff.
Lightweight tax regime for businesses
The IRAP rate is one of the lowest in Italy (2.68%). IRPEF is basically non-existent. These are just two examples of how South Tyrol is totally dedicated to promoting growth and actively sustaining the need for doing business. It is a well-known fact that high tax rates and complicated bureaucracy often stop people from starting a new business. In South Tyrol you will instead find quick and easy answers, with a top-of-the-range public administration always ready to lend help and support, and which is becoming increasingly digital, which makes everything even easier. The person who wants to do business in South Tyrol can expect to do so without having to worry about annoying red-tape procedures.