Amplifon signs the advance agreement on Patent Box

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Last updated on January 31, 2018 at 06:00 pm

Amplifon S.p.A. (MTA; Bloomberg ticker: AMP:IM), global leader in hearing solutions and services, hereby announces to have signed with the Italian Tax Authority the advance agreement defining methods and criteria in order to calculate the economic contribution to the production of intangible property income - which for Amplifon S.p.A. is represented by its trademark - for the purposes of the so-called Patent Box regime, with reference to the fiscal years 2015-2019. 

In the three-year period 2015-2017, the subsidized income that is attributable to the use of the Company’s trademark, amounted to approximately 40% of Amplifon S.p.A.'s operating result, determining for the three-year period an estimated tax benefit totaling around 6 million euros. This benefit will be accounted for in the 2017 Financial Statement as a reduction in the income statement tax of Amplifon S.p.A..

The 2018 and 2019 tax benefit will be quantified when the Financial Statements for these respective years will be drawn up.

Finally, to be noted 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%. 

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