The Firm advises Petrolvalves on Patent Box agreement

The team from Tremonti Romagnoli Piccardi e Associati, composed of partner Antonio Vitali and associates Giulio Tombesi and Niccolò Masotti, advised Petrolvalves on the signing of an advance agreement with the Italian Revenue Agency, to define the methods and criteria to be applied in determining the income eligible for tax relief under the Patent box regime.  

The Firm assisted the Company, one of the world’s leading manufacturers of special valves for the oil and gas industry, during the course of the preliminary hearing and in the discussions with the Revenue Agency, which ended with the signing of the agreement on 30 November 2018.

The discussions involved an in-depth analysis of specific issues related to the eligibility for tax relief of the Company’s intangible assets, including know-how, patents and trademarks and the determination of their related economic contribution. The agreement allows the income deriving from the direct use of the aforementioned intangible assets to avail of the tax relief, guaranteeing the Company a significant tax benefit, with a consequent reduction in the overall tax rate.