December 29, 2016 / 4:59 PM / a year ago

BRIEF-Ferragamo signs patent tax deal with Italian authorities

Dec 29 (Reuters) - Salvatore Ferragamo says:

* signs preliminary agreement over patents with Italian tax authorities

* deal defines method for calculation of the quota of income exempt from income taxes for the purposes of the so-called Patent Box regime in relation to the direct use of intangibles

* Patent Box is a tax relief regime for the benefit of Italian enterprises producing income through the direct use or the licensing to third parties of intellectual property rights

* company estimates tax benefits for fiscal year 2015 deriving from Patent Box deal to be material and price sensitive

* tax benefits from Patent Box for 2015 and 2016 to be booked in 2016 annual accounts and used in one go for the payment of the income taxes due for the same year Source text for Eikon: Further company coverage: (Reporting by Milan newsroom)

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