The note examines the tax measures of greatest interest to companies contained in the Budget Law 2026 (Law No. 199/2025), which was published in the Official Gazette on 30 December 2025 and came into force on 1 January 2026.

During the parliamentary process, Confindustria pointed out some critical issues on the tax front, including the restriction of the dividend exemption to holdings below 10%, the prohibition of F24 offsetting with INPS/INAIL debts, the limited time projection of the IRES bonus and the new hyper-amortisation, as well as the absence of measures on web tax, global minimum tax and the tax regulation of company cars.

Here, the main measures of the manoeuvre are analysed, including the reduction of the IRPEF rate for the second income bracket, the revision of deductions for higher incomes, tax breaks on salary increases and productivity bonuses, as well as investment incentives, i.e. hyper-amortisation and ZES Unica tax credit, and other changes to business taxation.