What has been announced?
On 11 November the UK and German governments issued a joint statement outlining a proposal to advance discussions between OECD member countries. It is aimed at agreeing a new set of rules governing the operation of IP box regimes including the UK patent box i.e. regimes offering preferential tax rates on profits derived from certain forms of intellectual property assets. The proposal will be put to the Forum on Harmful Tax Practices (FHTP) which as part of its work under Action 5 of the OECD’s base erosion and profit shifting (BEPS) programme has been tasked with ensuring that preferential regimes link benefits to a substantial activity requirement.
What is proposed?
Key aspects of the proposal put to the FHTP focus on...
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