Cesena, 19 June 2018 - Technogym signed today an agreement with the Italian Revenue Agency to access the Patent Box’s tax relief.
The legislation on Patent Box provides a tax relief regime for a five-year period from 2015 to 2019. The tax benefit estimated by Technogym for the three-year period 2015-2017 is approximately 9,8 million euros and will be fully reflected in the Group’s FY 2018 results. The 2018 and 2019 tax benefit will be quantified and disclosed in the Group’s respective annual financial statements.
We point out that the Patent Box represents a tax relief regime for the benefit of companies generating income through the direct and indirect use of intellectual property rights, patents, trademarks, designs and other intangible assets; with reference to 2015 the benefit is determined by excluding from the taxable income 30% of the income attributable to the use of intangible assets, for 2016 the rate is 40%, while for the three-year period 2017-2019 it is equal to 50%.
Finally, we remind that the tax relief which relates to today’s agreement only regards brand, while it’s still in process the definition of the agreement on other eligible intangible assets.