New incentives to boost investment notably the industry are introduced in the draft Finance Bill 2015, as a continuity of state policy of support to the productive investment and the diversification of the national economy.
According to the Draft Finance Bill 2015, which APS received a copy, State will grant furthertax benefits to investors operating in industrial sectors.
Indeed, these investments will benefit from exemption of taxes on corporate profits (IBS) or taxes on total income (WRI) and the tax on professional activity (TAP) for a period of five years and a 3% interest rate subsidy, applicable to bank loans.
And to promote innovation within the companies activating in the industrial sector, the State plans to grant further tax benefits (VAT and customs duty) and a training bonus for investments achieved by those companies in the field of research and development.
The Public Treasure will take in charge the bank interests taken by the industrial companies in view to acquire and master the technological processes so to improve the industrial integration rate and the competitiveness of their products.
The draft law on the state budget for 2015 provides for the extension until 31 December 2019 of the application of the interest rate of customs duty on the acquisitions of equipment and furnishings which are not produced locally and complying with hotel standards and modernization and upgrading operations.
Furthermore, the bill proposes that the Public Treasure takes in charge the interest rates during the deferred period, and 100% subsidy of interest rates on loans given by public banks to the companies entrusted with the construction of 80,000 hire-purchase housing programme.