Sicily is going through a difficult economical moment. The recent data provided by the Bank of Italy, the SVIMEZ and the regional observatory on credits show the substantial stagnation of the productive sectors and in some cases even the recession. The Regional Government is in the front line to provide the instruments for the prompt recovery of the Regional economy. There is a need to intervene, only by revitalizing productive investments and by sustaining the Sicilian enterprises can we aim at economic growth and development.
Recovery and investments are an inseparable binomial and the financial documents prepared by the Regional Government have taken this into consideration. In fact in the proposed financial bill one can find both cuts on expenses and measures for investments in favour of the municipalities and enterprises, putting together the resources coming from different operators (IRFIS, CRIAS, IRCAC).
In this context with the regional law on tax credit for new investments and for the growth of enterprises (n. 11 17th November 2009 ), the Regional Parliament has foreseen the allocation of a contribution towards initial investment projects, as defined in the “Guidelines on national regional aid for 2007-2013”, published in the European Union official journal C 54 4th March 2006. The contribution is in the form of a tax credit for enterprises (including craft enterprises, companies engaged in mining, manufacturing, tourism and services) and is distributed to those enterprises that undertake new investments in the Region within the deadline of 31st December 2013.
In order to have a concrete application of the above law, on 17th November an agreement between the Sicilian Region and the Internal Revenue Service was signed according to which the SOGEI (Company of the Ministry of Economy) will give, within 4 months, an adequate IT support to the procedures that need to be followed to be able to access the tax credit for the investments included in L.R. 11/2009.
Furthermore, with the local government decree n. 150 of 14th December 2010 orientation was laid down for a coordinated relationship among the different Administrative Departments interested in the well-timed accomplishment of the activities related to L.R 11/2009 in order to have a periodic verification of fulfillments.
Finally, on 23rd December 2010, as part of inter-institutional forms of cooperation aiming at promoting actions and the more appropriate instruments to offer an information service on the economic/financial regional laws, a protocol agreement with the coordination of the associations of accountants and the accounting experts. According to the protocol the members of the above groups will be able to access the documentation (also in an electronic format) relative to the tax credit. They also commit to promote joint initiatives on all the regional territory to guarantee wide and diffused knowledge of the foreseen economic measures.
As part of the diffusion plan conceived, aiming at spreading the knowledge on the opportunities offered by L.R. 11/2009, it is also foreseen the stipulation of other protocol agreements with similar objectives as the one above. The actual operation of the above law represents a strategic instrument for the recovery of the Sicilian economy and a great opportunity for the development of the enterprises and the attraction of investments.
With this awareness and with great sensibility and effort, the Sicilian Regional government is going to anticipate the needed funds to pay for the contributions provided by this law which actually foresees the use of the regional FAS resources (priority 6 ‘Competitiveness and development of the productive activities’, which are part of the approved repartition plan already approved but not yet assigned by the State)
With the aim of giving weight to the initiative, together with the members of the local government and the Managing Directors of the Productive Activities, of Agriculture and Fisheries there is the desire to create a structure which coordinates the distribution of the tax credit. In the same way it is desirable that the Sicilian business system cooperates with the its own territorial facilities for the spreading of this instrument which aims to be a further element in the Regional Government policy for shared development and quality.
It is possible to revitalize the Sicilian economy. There is a need for cooperation between all the business and social forces using courage and determination.