Global competition is no longer determined only by labor costs or market size, but also by how effectively economies can offer stability, predictability and conditions for growth, said Simone Crolla, executive director of AmCham Italy.
Crolla opened a meeting titled “Competing for Capital: Tax Policies, Incentives and the New Global Geography of Investment,” held as part of the fifth edition of the organization’s “Walk the Talk” initiative. The discussion examined tax policy as a tool for economic growth and regional competitiveness amid geopolitical change and the reshaping of value chains.
Governments, institutions and businesses can use taxation to support industrial policy and development, Crolla said. He argued that attracting talent, investment and new businesses calls for innovative tax policies, investment incentives, simpler regulations and business-friendly ecosystems, with quality of life also playing an important role.
For Italy, attracting international capital depends on both institutional stability and confidence in the law, as well as on tax measures that may appeal to prospective investors. Crolla described taxation as an enabling factor that investors consider closely when deciding where to invest.
Maurizio Leo, Italy’s deputy minister of economy and finance, also addressed the event. He said the government’s tax reform has focused on international taxation, legal certainty and simplification. Leo cited clearer rules for people residing in Italy, attention to new residents and simplified arrangements involving foreign subsidiaries controlled by Italian companies.
Sources: Il Sole 24 Ore Italia.