Source: Taxation In Australia Journal Article
Published Date: 1 Oct 2021
A patent box is a generic term for regimes that apply a concessional tax rate to profits derived from eligible intellectual property. Currently, over 20 jurisdictions have patent boxes or other similar concessional tax regimes. This article explores the proposed introduction of a patent box in Australia, including how such a tax regime will likely interact with the existing research and development tax incentive, the OECD action plan on base erosion and profit shifting, and the recent release of TR 2021/D4 in relation to royalties and the character of receipts in respect of software.
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