(Alliance News) - Cembre Spa announced Monday that it has signed a renewal of the agreement with the Internal Revenue Agency that defines methods and criteria for calculating the economic contribution to the production of business income of intangible assets for the purposes of the "Patent Box," with reference to the 2020-2024 tax years.

The agreement allows Cembre to achieve a tax benefit for 2020 of about EUR1.1 million, determined according to the methods and criteria defined with the agreement; the tax benefit for the years 2021, 2022 and 2023 is currently being determined and will be communicated as soon as it is available, the company specified in a note.

Quantification of the benefit related to 2024 may be made when preparing the 2024 financial statements.

Cembre's stock is up 0.3 percent at EUR36.80 per share.

By Chiara Bruschi, Alliance News reporter

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