The new Law 4/2013 (February 22) provides measures of support for entrepreneurs to stimulate growth and jobs. The new law became effective on February 24, 2013.
The following are measures of support that the new law provides:
- Incentives for:
- Taxation of entrepreneurial activity at a tax rate of 15% for the first € 300,000 of taxable income and a 20% tax rate for the excess; a 20% reduction in income tax of the net income applicable to economic activity in the first positive tax period and the following one. The new law also removes the current limit for exemption from unemployment benefits
- Entrepreneurship and self-employment among those under 30 years of age by introducing payment that is compatible with unemployment benefits and the start of self-employment or other entrepreneurial experience
- Hiring part-time employees and training them
- Permanent hiring of youth by self-employed entrepreneurs
- Recruiting young people to acquire their first experience in the workplace
- Funding for the payment and cancellation of debts to suppliers of local and regional governments
- Increased efficiency in the railway sector
- Stability of prices of automobile fuel
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