Ireland: 6.25 percent corporate tax on intellectual property

http://www.reuters.com/article/2014/10/17/ireland-tax-idUSL6N0SC16920141017

Source: Ireland is considering levying corporate tax at half its standard 12.5 percent rate on profits from intellectual property under a scheme it is preparing to submit to the European Commission. The government announced plans to introduce a "Knowledge Development Box" tax scheme in a year's time, similar to "patent boxes" in other jurisdictions, whereby profits earned from patented inventions are subject to a lower rate of corporation tax. The Irish Times, without citing sources, said the government was also considering an 8 percent tax rate on intellectual property, which would be in line with a similar scheme in the Netherlands.

Country: Ireland

Domains: IPR

Stakeholder: Government

Tags: tax loophole, Double Irish, intellectual property, European Commission, corporate tax, patent, Knowledge Development Box tax scheme, government, Ireland

Posted on Saturday 15 November 2014

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Ireland: 6.25 percent corporate tax on intellectual property