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Patent Box Tax Regime

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Patent-Box-Tax-Regime-2Patent Box aims to promote investments in R&D related to intangible assets allowing an additional tax deduction from CIT arising from use or licensing of certain intangible assets.

• Eligible intangible assets: relevant IA are software protected by copyright; patents, business and te- chnical industrial know how; other legally protected IP, such as designs and models.
• Tax deduction: the amount of maximum tax deduction is 50% starting from FY 2017 (30% for FY2015 and 40% for FY2016). This percentage is applied to the income linked to the use of the eligible intan- gible assets (or licensing).
The same tax deduction is also granted with reference to Regional Tax on Productive Activities. Patent Box regime is also applicable to capital gain arising from selling of qualified IPs.
• Beneficiary: subjects involved for this tax regime are companies, non-resident taxpayers with a per- manent establishment in Italy if they are resident in a country with which Italy has an effective tax in- formation exchange agreement, individual entrepreneurs and other bodies carrying out business activities.
• Tax ruling: depending on the use of the eligible assets (“direct” for production or “indirect” by licensing) holders of IP rights are required to improve a tax ruling with the Italian Tax Authority. Indeed, in case of direct use this procedure is mandatory for determining the amount of benefited income arising from the direct exploitation of the eligible assets.
• Validity: the election shall be exercised annually and it is irrevocable for 5 years.

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