World News: 17:03 GMT Wednesday 11th July 2018. [EQS Group via SPi World News]
B&C Speakers SpA
B&C Speakers Signs Preliminary 'Patent Box' Agreement
Florence, 11 July 2018
B&C Speakers hereby announces that, with the support of the Business Tax and Consulting firm EY, it today signed an agreement with the Italian Revenue Office defining the calculation methods and criteria for the economic contribution to business revenue of intangible assets in the context of the 'Patent Box' scheme, for tax years 2015-2019.
The 'Patent Box' scheme allows tax exemption for a portion of revenue deriving from use of B&C Speakers' own brands and other intellectual property: 30% for 2015, 40% for 2016 and 50% for the three-year period 2017 - 2019.
The agreement determines the contribution relative to said intangible assets at around EUR 4,390,000 allowing a tax saving for 2015 of around EUR 414,000.
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