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Taxing the Intangible: Overview of global approaches and a review of recent policy changes in the UK

Published on 01 Oct 03 by "AUSTRALIAN TAX FORUM" JOURNAL ARTICLE

This paper examines the current approaches to taxation of intangibles in three different jurisdictions: Australia, the US and the UK, with a primary focus on the UK. The first part of the paper outlines the economic impact of various intangible assets. It then outlines the accounting issues related to intangibles as a foundation to an overview of the current tax treatment of intangible assets and goodwill in the three jurisdictions largely built on these accounting principles. The paper then focuses on the recent changes to UK legislation for taxing intellectual property, goodwill and other intangibles. The paper illustrates that, whilst these changes were important, they by no means go as far as they may have gone, given existing knowledge in the area and even the apparent desires of the policy makers in proposing the tax reform in this area. It however, illustrates a promising trend in the process of tax reform debate.

Author profiles:

Author Photo - Michael WALPOLE
Michael WALPOLE

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Andrew LYMER
Andrew is a Senior Lecturer in Taxation and Information Systems at the University of Birmingham Business School in the UK. His research work relates to international taxation, and to the role of IT and information systems in business, with a particular focus on the impact and influence of the Internet.
Current at 25 August 2003 Current at 19 November 2004

Gary MCGILL
Gary is the Pricewaterhouse Coopers Term Professor in the Fisher School of Accounting at the University of Florida and the director of its accounting PhD program.
Current at 25 August 2003 Current at 19 November 2004

David ONYEKWE
David was, until recently, a researcher and postgraduate student at the University of Birmingham Business School. He is currently completing his professional tax examinations in the UK with KPMG.
Current at 25 August 2003 Current at 19 November 2004

 

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