R&D–MNE Tax

Asia-Pacific

China maintains tariff and import tax incentives for certified foreign R&D centers

May 17, 2021

Grace Lin, Cuatrecasas, discusses the Chinese government’s two April notices announcing new tariff and import tax policies to support technology innovation under the 14th Five-Year Plan . . .

Accounting

Australian budget includes patent box, depreciation changes

May 13, 2021

The Australian government’s 2021–2022 budget, released May 11, announces plans to encourage research through a new patent box regime and other measures and to provide broader business investment support . . .

Europe

Ireland amends R&D tax credit guidance to address rental costs

May 3, 2021

An updated version of Irish Revenue’s tax guidance on the research and development (R&D) tax credit, released April 28, adds a section on rent as a qualifying expenditure for R&D activities, among a few other revisions.

Asia-Pacific

New Zealand enhances R&D tax credit refundability to lessen impact of COVID-19

May 3, 2021

New Zealand’s Inland Revenue has brought forward by one year the application date of broader refundability for the R&D tax credit in a move intended to help businesses retain their R&D capability during the COVID-19 outbreak, the government said . . .

Americas

US Treasury Secretary Yellen says tax moves needed to help tackle climate change

April 22, 2021

US Secretary of the Treasury Janet L. Yellen spoke on April 21 of the Biden administration’s “whole-of-government approach” to aggressively tackling climate change – including creating a targeted investment tax credit . . .

Americas

Brazil proposal would enhance tax incentives for technology R&D

April 22, 2021

Doris Canen, International Tax LLM, discusses a bill to extend the benefits of Brazil’s R&D tax incentive that is pending before the Commission for Economic Development, Industry, Commerce, and Service . . .

Americas

US support for R&D has stalled relative to France, UK, others

April 14, 2021

While several countries have significantly boosted their support for business research and development (R&D) relative to their overall economies in recent years, total US government support for business R&D . . .

Asia-Pacific

Australian court holds R&D tax offset refund was paid by mistake, subject to recovery provision

April 8, 2021

The Federal Court of Australia held on March 19 that a research & development tax offset refund claimed by, and paid to, a taxpayer, but to which the taxpayer was not entitled, is subject to . . .

Americas

Biden fleshes out international tax plan, Senate Democrats offer their take

April 7, 2021

A US Treasury Department report released on April 7 expands on the corporate tax plan announced by the Biden Administration last week . . .

Asia-Pacific

China enhances R&D super deduction for manufacturing, extends multiple tax breaks for doing business in China

April 6, 2021

Hengka (Henry) JI, Zhong Lun Law Firm, discusses the March 15 release by China’s Ministry of Finance and State Administration of Taxation of “Announcement No. 6 of 2021 Concerning the Extension of Several Preferential Tax Policies”. . .

Americas

US business group urges Congress to pass bill preserving companies’ ability to immediately deduct R&D expenses: US Chamber of Commerce→

March 31, 2021

Asia-Pacific

China to increase extra tax deduction for R&D expenses of manufacturing firms: State Council→

March 26, 2021

Europe

UK proposes ‘super deduction’ for plant and machinery, launches R&D tax incentive review

March 16, 2021

The UK published its Finance Bill on March 11, detailing the tax provisions announced in the 2021 UK budget, including the super deduction to boost economic recovery and a review of the UK’s current R&D tax incentives. . .

Americas

US Tax Court upholds IRS disallowance of section 38 and 41(a) research credit for activities undertaken by taxpayer’s subsidiary: US Tax Court→

February 16, 2021

Europe

Switzerland aims to make tax system more competitive

February 8, 2021

Switzerland’s Federal Department of Finance is developing new tax rules designed to improve Switzerland’s attractiveness as a business . .

Americas

The end of the “double-Irish” tax structure means that a greater share of MNE profits are taxed in the US where the R&D generating the profits is undertaken: Seamus Coffey / Irish Examiner→

January 4, 2021

Americas

US Congress passes stimulus bill that extends PTC and ITC for land-based wind for one year at 60%, solar ITC for two years at 26%, gives offshore wind projects a 30% ITC, extends tax credit for carbon recapture by two years: Catherine Morehouse / Utility Dive→

December 23, 2020

Europe

Updated Ireland R&D tax credit guidance addresses plant and machinery, reflects UK’s withdrawal from EU: Irish Tax and Customs→

December 22, 2020

Europe

UK draft tax proposals include hybrid mismatch fixes, R&D tax credit cap

November 12, 2020

The UK government today proposed additional tax legislation for Finance Bill 2021 . . .

Europe

Ireland updates guidance on R&D tax credit refunds: Irish Tax and Customs→

November 11, 2020

Australia

Australia revamps R&D taxation guidance: Minister for the Department of Industry, Science, Energy, and Resources→

November 10, 2020

Africa

South Africa presidential commission recommends adoption of digital tax, tax on processed metals, R&D tax credit incentive: Businesstech→

October 27, 2020

Asia-Pacific

Korea expands R&D tax credit, other technology tax incentives

February 11, 2020

Unghwan Rap Choi, Esq., Ph.D., Partner and International Tax Leader at CKP, LLP, Irvine, California, discusses new Korean government tax incentives offered for research and development . . .

Europe

German cabinet passes R&D tax incentive

May 23, 2019

German practitioner Ninja-Antonia Reggelin notes that the German cabinet passed a bill introducing a new tax incentive for research and development (R&D) on Wednesday . . .

Asia-Pacific

Hong Kong gazettes R&D tax incentive

November 2, 2018

The Hong Kong government today published in the official gazette a new law increasing the tax deduction for . . .

Asia-Pacific

New Zealand announces new R&D tax incentives

October 3, 2018

The New Zealand government today proposed a new research and development (R&D) tax incentive package designed to promote investment. Legislation providing for the credit will . . .

Europe

German government proposes new R&D tax incentive

April 19, 2019

Ninja-Antonia Reggelin discusses a draft law published by the German finance ministry April 17 introducing a tax incentive for research and development . . . .

Europe

Ireland seeks feedback on R&D tax credit

April 29, 2019

Ireland’s Department of Finance today launched . . .

Asia-Pacific

Hong Kong tax bill granting enhanced R&D deduction gazetted

April 23, 2018

A Hong Kong tax bill that provides for an enhanced deduction for research and development expenditures conducted in Hong Kong was gazetted April 20, Hong Kong’s Inland Revenue Department . . .

Asia-Pacific

Australia planning tax increase for multinational digital firms, R&D tax incentive changes

May 8, 2018

The Australian government intends to write new laws to tax digital businesses, crack down on research and development (R&D) tax incentive abuse, and revise the thin cap provisions, among other initiatives, budget documents released today . . .

Asia-Pacific

Singapore updates tax guide for pharmaceutical manufacturing industry covering R&D and IP

March 20, 2018

The Singapore government today released an updated e-Tax guide for the pharmaceutical manufacturing industry addressing the tax treatment of research and development and intellectual . . .

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