Findus signs the agreement on the Patent Box

Findus, after a work which lasted more than two years, signs the Patent Box Agreement with the Central Directorate of the Revenue Agency in Rome, defining methods and criteria for determining the income eligible for the period 2015-2019.

Patent Box’s subject of facilitation are the main brands of the leading company in Italy in frozen food: Findus, Capitan Findus and Sofficini, brands that have a long and well-established tradition, recognized by the market for their quality. Findus Italia based on the results approved for 2015-2016 and on the 2017-2019 financial forecasts estimate tax benefits from the Patent Box for almost 22 million.

The Patent Box represents the facilitated tax regime for the benefit of companies producing income through the direct and indirect use of intellectual property, patents, trademarks, model designs and other intangible assets; for 2015, the benefit is determined by excluding from the tax base 30% of income attributable to the use of eligible intangible assets, for 2016 the percentage of exclusion is equal to 40%, while for the three-year period 2017-2019 it is equal to 50%.

“The Patent Box Agreement once again shows how the market leader continues to invest year after year on quality and sustainability, keeping in Italy know how, production and personnel - comments Luisa Milletti, Corporate Finance Controller Findus Italia - an extraordinary result, an example of how support functions such as Finance can not only create tangible value, but above all contribute to the Brand Equity strategy”.  

In this operation, Findus was supported by Dr Davide Rossetti, Morri Rossetti’s name partner who handled every fiscal aspect, and by Mr. Andrea Tiburzi of Barzanò & Zanardo, a specialist in Intellectual Property.