Incentives for the establishment of new companies in San Marino in the maritime sector
The new business activities carried out through capital companies, operating exclusively in the sector referred to in Law 2 August 2019 no. 120 and subsequent amendments and whose members have not exercised, in the twelve months prior to the submission of the application, an economic activity comparable to that for which access to benefits is required, are recognised:
- exemption from the payment of the license fee;
- for the following three years of activity, exemption from the payment of the annual license fee;
- for the first ten tax periods, reduction of the expected rate equal to 80% of the IGR tax. The taxpayer has the right to postpone the start of the tax exemption period starting, and not beyond, the third tax period following the start of the new activity;
- IGR tax credit on personnel training, technological innovation and development programs, whose criteria are defined by regulation of the State Congress.
The above benefits are subject to compliance with the following requirements:
- it is a newly established company;
- at least one employee is hired, including the administrator even if not registered on the start-to-work lists, as long as he is hired full-time, within six months of the issuance of the license, and an additional employee within twenty-four months of the release of the license.
The maintenance of the requirements for shareholders in the event of the sale of shares or shares and compliance
Of the requirement provided for in letter b) is an indispensable condition to preserve the benefits.
The request for benefits must be submitted to the Economic Activities Office.
The benefits provided for in letters a) and b) apply, under penalty of forfeiture, from the date of issue of the license.
The benefits provided for in letters c) and d), apply at the option of the beneficiary, without prejudice to the time limits provided for therein.
The failure of the requirements entails the forfeiture of the facilities for the current and subsequent years.
Single-phase setting on units used for navigation that carry out commercial transport
The units used for navigation imported by San Marino companies and used exclusively and directly by the companies themselves for commercial activities of maritime transport of people or things or other maritime activities carried out professionally, benefit from the exemption from the payment of the single-phase tax.
The San Marino company that owns the unit will be able to benefit from the above exemption provided that it does not transfer ownership of the same to others for a period of two years, starting from the date of registration of the unit in the naval register referred to in Law n.120/2019 and subsequent amendments, unless the transfer takes place in favour of other eligible operators.
