B&C Speakers SpA: B&C Speakers Signs Preliminary 'Patent Box' Agreement

PRESS RELEASE
B&C Speakers S.p.A.
 

B&C Speakers Signs Preliminary "Patent Box" Agreement

Florence, 11 July 2018

B&C Speakers hereby announces that, with the support of the Business Tax and Consulting firm EY, it today signed an agreement with the Italian Revenue Office defining the calculation methods and criteria for the economic contribution to business revenue of intangible assets in the context of the "Patent Box" scheme, for tax years 2015-2019.

The "Patent Box" scheme allows tax exemption for a portion of revenue deriving from use of B&C Speakers' own brands and other intellectual property: 30% for 2015, 40% for 2016 and 50% for the three-year period 2017 - 2019.

The agreement determines the contribution relative to said intangible assets at around EUR 4,390,000 allowing a tax saving for 2015 of around EUR 414,000.
The tax benefit for 2016 and the following years is being determined and will be announced as soon as the figures are available.
B&C Speakers S.p.A.
B&C Speakers S.p.A. is an international leader in the design, production, distribution and marketing of professional electro-acoustic transducers (the main components in acoustic speakers for music, commonly referred to as loudspeakers), supplied mainly to professional audio-system manufacturers (OEM). With around 160 employees, approximately 10% of which are assigned to its Research and Development Department, B&C Speakers carries out all design, production, marketing and control activities at its offices in Florence and Reggio Emilia for the brands of the Group: B&C, 18SOUND and CIARE. Most of its products are developed according to its key customers' specifications. B&C Speakers also operates in the US and Brazil through two subsidiaries carrying out commercial activities.

B&C Speakers S.p.A.
Simone Pratesi (Investor Relator), Tel.: +39 055/6572 303
Email: spratesi@bcspeakers.com