The MIMIT Decree of 13 July 2026 updates Smart&Start Italia to the new innovative start-up framework and changes business-plan assessment, equity investment rules and the conversion of part of subsidised financing into a non-repayable grant. The scheme may also be available to foreign companies undertaking to establish an operating unit in Italy.

From 21 July 2026, both the preliminary notice and the investment confirmation for enhanced tax depreciation are available on the GSE platform. The confirmation requires at least a 20% advance payment for each asset and invoice details for eligible costs. Technical asset classification, the sworn appraisal and final accounting certification remain central to the process.

On 3 July 2026, the European Commission adopted simplified ESRS with more than 60% fewer mandatory datapoints and a new voluntary standard for companies outside the CSRD. For SMEs, the standard provides a proportionate framework for responding to ESG requests from banks, investors, large customers and lead companies in supply chains.

MLPS Notes No. 5003/2026 and No. 7741/2026 clarify operational issues for Third Sector Entities, including access to statutory books, volunteers and directors, remuneration, alternate control-body members, RUNTS updates and the distinction between a civil-law business and a tax-commercial entity. They are administrative guidance and must be read together with Legislative Decree No. 117/2017.

From 29 April 2026, Legislative Decree 47/2026 reforms the governance of Italian joint-stock companies: greater autonomy for the three governance systems, new rules on delegation and information flows, clarification of non-executive directors’ roles and stronger oversight of internal controls and risk management. Decisions on access to restructuring and insolvency tools may not be delegated.

From 16 March 2026, the new AGCM Regulation extends the Italian Legality Rating to three years, rewards continuous renewals and makes an English-language certificate available. Requirements and checks become more significant: for businesses, the issue is not only obtaining the rating but maintaining it through effective compliance controls and preventive risk management.

Italian Revenue Agency Circular 1/E/2026 clarifies the new tax framework for Third Sector Entities from 2026, including RUNTS registration for former ONLUS entities, the Article 79 non-commerciality test with a 6% tolerance, and the Article 86 flat-rate regime for ODV and APS entities. The Circular is administrative guidance and does not amend the underlying law.

The Italian SME Guarantee Fund measures are extended until 31 December 2026. Different coverage levels remain available for liquidity financing and small transactions, with qualifying mid-cap companies, micro-enterprises and Third Sector Entities also potentially eligible. The public guarantee supports financing but does not replace the bank’s assessment of financial statements, Central Credit Register data and prospective repayment capacity.

The 2026 Budget Law reintroduces enhanced tax depreciation for qualifying digital and energy investments made from 1 January 2026 to 30 September 2028. The incentive increases the tax basis of eligible assets, resulting in higher deductible depreciation or lease payments, and requires coordinated planning of technical eligibility, interconnection and documentary requirements.

Commission Delegated Regulation (EU) 2025/1416 introduces a Quick Fix to the ESRS by postponing certain requirements and expanding transitional reliefs for first-wave CSRD companies. The simplification reduces immediate reporting burdens but does not remove the need, including for many SMEs outside the mandatory scope, to collect ESG data requested by banks, customers and supply chains.

From 7 November 2025, Transition 5.0 funds were fully allocated, but new reservation notices could still be filed and remain relevant if further funds became available. For businesses with applications already underway, checking the filing status, completing the required certifications and ensuring consistency across technical and accounting documentation therefore became key operational priorities.

The Ministry for Enterprises and Made in Italy (MIMIT) provides operational guidance for applying the 2025 rules on innovative start-up status: Small and medium-sized enterprise (SME) requirement, €5 million cap from the second financial year, ban on prevalent agency/consultancy, the 36→60-month extension and subsequent “scale-up” periods, as well as removals beyond 60 months. (MIMIT Circular 29.07.2025; Decree-Law 179/2012, Art. 25; Law 193/2024)

On 1 July 2025, the Ministry of Economy and Finance (MEF) issued guidance that explains, in practical terms, how to distinguish “non-entitled” from “non-existing” tax credits and how tax authorities should recover them. The guidance builds on the reform that defined both categories (Legislative Decree, Leg. Decree No. 87/2024, within Legislative Decree, Leg. Decree No. 74/2000) and highlights the role of certification for R&D, innovation and design expenses

The tax decree makes the new tax framework for Third Sector Entities effective from 2026. In short: clearer rules to qualify “non-commercial” activities, simplified lump-sum regimes, and—for social enterprises—no tax on profits that are reinvested in the organisation (DL 84/2025; Third Sector Code, Arts. 79, 80, 86; Leg. Decree 112/2017, Art. 18).

Through “Stop-the-clock”, the Council of the European Union defers certain timelines under the Corporate Sustainability Reporting Directive (CSRD), the EU Taxonomy Regulation, and the Corporate Sustainability Due Diligence Directive (CS3D). In parallel, the European Commission has tasked the European Financial Reporting Advisory Group (EFRAG) with streamlining the European Sustainability Reporting Standards (ESRS).

The European Commission, via a comfort letter communicated by the Ministry of Labour on 8 March 2025, has cleared the way for the tax rules of the Italian Third Sector Code. From 1 January 2026, the provisions on direct taxes and preferential regimes for ETS (Third Sector Entities) become operational, including the new non-commerciality test and the optional lump-sum regimes. For social enterprises, profits reinvested are exempt from corporate income tax. Solidarity bonds and tax incentives for investments in newly incorporated social enterprises are still pending further EU assessment.

Law No. 193 of 16 Dec 2024 introduced tax incentives to foster investments in innovative startups and SMEs. These measures build on Law No. 162 of 28 Oct 2024 and are part of a broader set of fiscal and financial tools designed to strengthen equity, support tech investments and boost growth and competitiveness.

The 2025 Budget Law introduces changes to tax credits for innovative investments and the Transition 4.0 program, expands the possibility of combining incentives, and confirms new compliance obligations. More opportunities for businesses, but also new requirements to consider.

The 2025 Budget Law confirms the reform of the Guarantee Fund with a new 50% single rate for liquidity operations and introduces access for Mid Caps with fewer than 250 employees. The ceiling for small-scale operations has also been raised.

The Italian Ministry of Economy and Finance (MEF) has published the “Guidelines for Sustainability Dialogue between SMEs and Banks.” The document aims to facilitate ESG data collection and reporting, supporting access to credit and improving SMEs' competitive positioning.