The Firm advises Biesse on Patent Box agreement
Tremonti Romagnoli Piccardi e Associati advised Biesse, parent company of the group of the same name, active in the mechatronics and precision mechanics sector, listed in the Star segment of the Italian Stock Exchange, on the signing, with the Office for Advance Pricing Agreements and International Disputes, an advance pricing agreement concerning the definition of methods and criteria to determine the income eligible for tax relief under the Patent Box regime.
The Firm’s team composed of partners Giancarlo Zoppini and Simone Zucchetti and senior associate Michele Bissoli, assisted the company during the preliminary investigation and discussions with the Office for Advance Pricing Agreements and International Disputes, which lasted for approximately 18 months, up until the agreement was signed.
The discussions included an in-depth analysis of the relevant issues connected with the tax relief on intangible assets, and the determination of their related economic contribution in a highly specialized sector, like the precision mechanics sector, which has always been an important contributor in industrial innovation. The agreement will also allow the entire group to obtain a significant tax benefit, with the consequent reduction in the overall tax rate.