Italy to introduce 20% tax break for R&D of drugs including COVID-19 vaccines - draft

[May 20, 2021]  ROME (Reuters) - Italy will introduce tax breaks of 20% for companies conducting research and development for innovative drugs, including COVID-19 vaccines, provided they grant non exclusive licenses, according to a draft decree seen by Reuters.

These companies will be entitled to a tax credit equal to 20% of the costs they incurred from June 1, 2021 to Dec. 31, 2030 on condition they commit to grant licenses to third parties in the European Economic Area "on non-discriminatory market terms", the draft showed.

(This story has been refiled to add dropped word in headline)

(Reporting by Giuseppe Conte, writing by Maria Pia Quaglia; editing by Agnieszka Flak)

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