San Marino has published Delegated Decree No. 25 of 4 February 2019, which provides new rules for the regulation of high-tech enterprises, including tax incentives. To qualify as a high-tech enterprise, certain conditions must be met, including inter alia that the company is governed by San Marino law, has been certified as highly innovative, and holds an industrial or service license. Companies that meet the general requirements are classified as one of three types of high-tech enterprise: A First Level Technological Start Up (Start Up Tecnologica di Primo Livello - SUT I), which are newly established qualifying companies (the duration...