Pursuant to Section 1, para 140-146, of law n. 147/2013 (the so called "2014 Stability Law"), a commercial entrepreneur who applies national accounting standards has the possibility to operate a revaluation of its industrial property assets in the 2013 balance sheet.
The possibility to make a revaluation applies to every legally protected intangible asset, thus including trademarks, patents, designs, utility models and know-how.
To access the revaluation it is necessary (i) that the intangible asset to be increased in value has not been fully amortized, being included in the balance sheet as of December 31st, 2012, or (ii) that such intangible asset, even if it has been fully amortized, is still protected by law. The revaluation must be carried out in the balance sheet or cash flow statement for the year following the year in progress at 31 December 2012, for which the term of approval expires after 1 January 2014.
The revaluation shall produce civil and fiscal effects upon payment of a 16% substitute tax.
The effects will take place from the third year after the one in which the revaluation has been performed, but, in case the IPRs are sold before the fourth year after the one in which the revaluation has been performed, the capital gains or the losses should be determined by taking into account the value of the asset previous to its increase.