Luxottica has reached an agreement with the Italian tax authorities allowing it get an estimated discount of about €100 million on its taxes for the 2015/19 period, which will be reflected in the income statement for this year. Like some Italian fashion houses, the company will be able to take advantage of a new scheme, known as the “patent box” system, designed to benefit Italian companies producing income through the direct use of their own intellectual property rights or their licensing to third parties. While the tax benefit for 2015 will exempt 30 percent of the income stemming from its patents, the ratio will rise to 40 percent for 2016 and 50 percent for the following three financial years. Luxottica expects to obtain further tax benefits in 2018 and 2019, without quantifying them. Financial analysts estimate that their impact will lie between €70 million and €100 million in those two years.