Why intellectual property tax is the rage
Intellectual property (IP) taxation has become fasionable, according to new CIOT president and pioneering AccountingWEB podcaster Anne Fairpo.
Just before her talk on recent changes in IP taxation at Accountex on Friday, Fairpo dropped by the AccountingWEB stand and shared her thoughts on our Accountex video talk show.
“It’s the tax of the moment. I've been doing this for 20 years, but suddenly intellectual property tax suddenly became fasionable three years ago,” she said.
The fad is being driven by the various tax incentives that have been launched in the past few years, including the R&D expenditure credit introduced last year and the patent box.
While they offer some advantages to all kinds of companies - not just those involved in the cliched image of white-coated laboratory scientists - they also introduce new levels of complexity that claimants will need to be aware of, Fairpo warned...