On 3 September 2026, the Italian Revenue Agency (Agenzia delle Entrate) published Response No. 169/2026 confirming that the ZES Unica (Single Special Economic Zone) tax credit applies to investments made through leasing contracts signed and delivered before the mandatory preventive communication, provided the project is deemed initiated after the incentive’s entry into force. The ZES Unica regime, originally introduced for 2024 and extended seamlessly into 2026, offers a tax credit for capital expenditures in designated southern regions. The clarification addresses a critical timing issue: businesses that entered into leasing agreements in early 2026, prior to submitting the required preventive communication, will not lose the benefit. The Agency emphasized that the investment is considered realized after the incentive’s effective date, respecting the EU State aid principle of incentivization under Regulation (EU) No 651/2014 (GBER). This interpretation ensures that the tax credit remains accessible for projects that physically commence after the legislative extension, even if contractual formalities precede administrative notification.
Key Takeaways
- Leasing Eligibility Pre-Notification: Taxpayers can claim the ZES Unica credit for leasing contracts executed and assets delivered before the preventive communication, as long as the investment project starts after the incentive’s 2026 extension date. This removes a potential trap for early movers who signed leases in anticipation of the formal application window.
- EU State Aid Compliance: The ruling explicitly aligns with the General Block Exemption Regulation (GBER), confirming that the incentive does not constitute unlawful state aid because the investment is incentivized only after the measure’s entry into force. This provides legal certainty for both taxpayers and tax advisors structuring cross-border or domestic leasing arrangements in ZES areas.
- Practical Impact for Southern Investment: The clarification encourages timely investment in ZES regions by allowing businesses to finalize leasing deals without waiting for bureaucratic clearance. Companies should still ensure the preventive communication is filed promptly and that the project meets all substantive requirements (e.g., asset localization, eligible costs) to secure the credit.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement