Abstract
The issue regarding the tax relevance (for IRES purpose) of the writedowns carried out in relation to the inventories valuated at specific costs has not found a shared interpretation at the level of the best doctrine. The Italian Revenue Agency has recently provided its interpretation by asserting the not relevance for tax purpose of such write-downs, reviving a never-ending debate. Starting from the Italian Revenue Agency’s point of view, the present paper aims to explain the different reasons based on which write-downs of inventories valuated at specific costs should be deemed deductible for tax purpose.