Bloomberg Tax
March 18, 2020, 12:39 PM

Businesses Get Additional Tax Credits in Italy to Fight Virus

Janna Brancolini
Janna Brancolini
Freelance Correspondent

Italy is giving businesses a 50% tax credit for sanitation expenses, such as daily cleaning services, masks, and other precautions that help stop the spread of new coronavirus.

The tax credits, worth up to 20,000 euros ($22,000) annually, are part of a 25 billion euro relief package taking effect Wednesday. The package is aimed at lessening the Covid-19 outbreak’s damage to Italy’s already fragile economy. The Ministry of Economy and Finance and Ministry for Economic Development will issue a decree with details in the next 30 days about how to apply for and receive the credits.

Many ...

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