Knowledge economy law with discounts of up to 60% in income tax enacted

The regime for the promotion of the Knowledge Economy becomes law, which grants a set of fiscal incentives for the development of essential industries for the country. Companies will be able to convert up to 70% of the employer contributions paid into a tax credit voucher and will be able to use it for up to 24 months from its issue for the cancellation of national taxes. They will enjoy an income tax reduction in a percentage that varies according to size, 60% discount will apply for SMEs and micro-SMEs, 40% for medium and 20% for larger ones.

Source: Ámbito