Are you young and interested in launching an agricultural business? Great news! There's a bonuses which could be just what you need to make your dream a reality. Law no. 36/2024, which came into force on 8 April, was designed to support young entrepreneurs in the agricultural sector, with a series of incentives really tempting.
Let's start from the fund made available: 15 million euros per year. This money is intended to co-finance regional programs that support the establishment of new agricultural activities, pushing generational turnover. But what exactly does this support include? We are talking about non-repayable contributions for the purchase of land, structures and capital goods, or for the purchase of existing companies. In short, concrete help for those who are ready to roll up their sleeves and start a new entrepreneurial adventure.
But there's more: if you are thinking of buying land, you will be able to benefit from a cut of 40% on registration taxesmortgage and cadastral, e even 50% discount on the notary's fee for sale deeds. These benefits make a big difference, significantly reducing upfront costs which can often be an insurmountable obstacle for many young people.
The law also offers a preferential tax regime for the first five years of activity. This means that, if you have not carried out other agricultural business activities in the previous three years, you can opt for a flat rate tax of 12.5% on the agricultural income obtained, without any amount limits. It's an incredible opportunity to keep your tax costs low while your business grows and stabilizes.
Additional incentives: bonuses, tax credit for training and reserved seats in local markets
It doesn't end here: to increase your skills and those of your team, the law provides a 80% tax credit for training costs relating to corporate management and innovation. This bonus is available for expenses incurred up to end of the 2024with a roof maximum of 2,500 eurosand can only be used to offset future taxes.
Last but not least, incentive is the reservation of places in the municipal markets. The law requires that at least 50% of the spaces in the markets be reserved for the direct sale of agricultural products from companies managed by young people. This it's a big one opportunity to make you know locally and build a loyal customer base, which is critical to the survival and growth of any new business.
Not only these incentives they help the young to enter the agricultural sector, but also encourage the adoption of more sustainable and respectful practices of the environmenta double advantage in an era in which sustainability is increasingly at the center of economic and social discussions.
Are you interested in learning more or do you need advice on how to proceed to access these bonuses? What are you waiting for to take the big step towards realizing your agricultural entrepreneurial dream?
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