UK proposes to widen scope of tax benefits to patent-linked profits

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UK proposes to widen scope of tax benefits to patent-linked profits By TII News Service Dec 09, 2011 , London
THE Patent Box seems to be coming up with lots of cheers for many companies. The UK had first proposed it in the year 2009, and once it is passed by the Parliament, it would come into effect from April, 2013. This is going to reduce the corporation tax rate to 10% for patent-related profits. Such an incentive is aimed at promoting commercialisation of existing patents of companies. The amended proposal has extended the benefits to patents also issued by the EU. Earlier proposal had made it conditional only for the UK-registered patents. This will benefit MNCs having worldwide patents.

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