By  on November 24, 2017
Luxottica's Rayban

MILAN—Luxottica Group signed an agreement with the Italian Tax Authority on Friday that guarantees the eyewear giant access to the Patent Box, a tax relief regimen that enables the group to exclude from its taxable base a percentage of the income derived from its intellectual property.As a result of its inclusion in the Patent Box, Luxottica will benefit from five years of relief from 2015 to 2019.While the estimated tax benefit for the period 2015 to 2017 is valued at about 100 million euros, the company’s tax benefit for the years 2018 and 2019 will be disclosed in Luxottica’s annual financial statements in the next two years.Other Italian fashion companies have been granted benefits through the Patent Box, including Salvatore Ferragamo and Brunello Cucinelli, or have asked to have access, such as Prada

To access this article, click here to subscribe or to log in.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus