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New On The Network Today
This feed is published daily with selected new or updated
content from across our network. For a list of network sites, many of
which feature daily news, see below. |
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| 02/09 New
Lowtax Editor Column, by Kitty Miv |
| 01/09 International
Privacy and Security, Investors Offshore special feature |
| 31/08
Lowtax Belize, annual update |
| 27/08
IRS To Drop UBS Lawsuit, Tax-News.com |
| 26/08 New
Lowtax Editor Column, by Kitty Miv |
| 25/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 24/08
Uruguay Stays On OECD Grey List, Tax-News.com |
| 23/08 Don't
Forget Doha, And I Don't Mean The Tennis, Jeremy Hetherington-Gore
blog entry |
| 20/08
Ireland Plans Social Security Overhaul, Tax-News.com |
| 19/08 New
Lowtax Editor Column, by Kitty Miv |
| 18/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 17/06
Lowtax Cayman Islands, annual update |
| 16/08
Germany's Fiscal Court Seeks Property Tax Reform, Tax-News.com |
| 13/08 Jurisdiction
Special Focus: Antigua and Barbuda, Investors Offshore special feature |
| 12/08 New
Lowtax Editor Column, by Kitty Miv |
| 11/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 10/08 Brazil
Cuts Import Tariffs, Tax-News.com |
| 09/08 Ukraine
Tax Code Published, Tax-News.com |
| 06/08
France Plans Reform Of Property Tax Credit, Tax-News.com |
| 04/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 02/08 Islamic
Finance - The New Mainstream Alternative, Investors Offshore special
feature |
| 28/07 New
PBTG Editor Column, Caroline, PBTG editor |
| 27/07 UK
Launches Raft Of Tax Consultations, Tax-News.com |
| 26/07 Fat
Tax On The Menu , Jeremy Hetherington-Gore blog entry |
| 23/07 Sarkozy
Seeks 'Fiscal Convergence' With Germany, Tax-News.com |
| 20/07 Singapore
Base For Tuvalu OIFC, Tax-News.com |
| 15/07 St
Vincent & The Grenadines, Investors Offshore special feature |
13/07 Tax-
News.com Jersey Review 2010-2011 |
| 12/07 Goodbye
To All That, Jeremy Hetherington-Gore blog entry |
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06/07 Hong
Kong Full PBTG Guide, added to Personal Business Tax Guide |
| 28/06
Lowtax Dubai, annual update |
| 18/06 Singapore
- Another Hong Kong?, Investors Offshore special feature |
| 15/06 Swiss
Parliament Approves UBS Agreement, Tax-News.com |
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08/06 Dubai
Full PBTG Guide, added to Personal Business Tax Guide |
| 04/06
Lowtax Panama, annual update |
| 01/06
Lowtax Luxembourg, annual update |
| 03/03
Personal Business
Tax Guide, PBTG, has launched! |
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| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
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| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
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| Think Tank Rubbishes UK Patent Box Plans |
by Robin Pilgrim, LawAndTax-News.com, London
Friday, February 05, 2010
Despite being welcomed by Britain's creative and research-intensive industries,
a leading think thank has argued that the government's proposed 'patent box'
regime will fail to encourage innovation.
In its 'Green Budget' assessment of the UK's public finances, released in February
4, the Institute of Fiscal Studies (IFS) said that the patent box regime "will
do little to address market failures that discourage innovation."
The patent box... will be expensive and will predominantly benefit a few large
companies," according to the IFS. "The money would better achieve
the government’s stated objectives if spent maintaining spending on the
science base and other infrastructure."
The government has yet to release details of how the scheme will operate, although
Chancellor of the Exchequer Alistair Darling confirmed in his pre-budget speech
to the House of Commons on December 9 that patent income will be subject to
a 10% rate of corporate tax after legislation is passed. First, however, the
government intends to consult with industry, and final legislative proposals
are unlikely to emerge until the 2011 Finance Bill. The scheme will then operate
from April 2013.
Commenting following Darling's announcement, Paul Smith, Head of International
Tax at Grant Thornton said that the government will raise a lot more tax from
the patent box regime than it does under the current corporate tax regime.
GlaxoSmithKline (GSK), one of the world's largest research-based pharmaceutical
and healthcare companies, has also come out in praise of the proposals, suggesting
that the patent box "is exactly the sort of active, long-term and creative
support that we need from the government."
However, others are of the view that the UK patent box will struggle to compete
with much more well-established and generous patent box regimes in the Netherlands
and Belgium, and will therefore, in all likelihood, fail.
“The UK needs to have a tax system that hangs out the welcome sign for
patents, rather than seeming to encourage the use of jurisdictions such as the
Netherlands with their generous systems for such income," said John Whiting,
Tax Policy Director at the Chartered Institute of Taxation.
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