Executive summary

The Italian Tax Authorities issued implementing instructions (Instructions) in February 2022 (protocol n. 48243/2022) on the new patent box regime that was introduced by Law Decree n. 146 on 21 October 2021¹ (as modified by 2022 Budget Law²).

Under the new patent box regime, the amount of qualifying research and development (R&D) expenses incurred in relation to qualifying…