Malta grants full deduction for IP expenditure from 2024
On 28 December 2023, Malta's Commissioner for Revenue declared that starting in 2024, taxpayers can fully deduct any expenditure of a capital nature related to intellectual property or intellectual property rights. The Commissioner for Tax and
See MoreWTO: International Trade Cooperation to Strengthen Preparation for Future Pandemics
On 3 June 2022 the World Bank and the WTO launched a document entitled: Trade Therapy: Deepening Cooperation to Strengthen Pandemic Defenses. The publication notes that trade has an important role to play in the response to health crises such as
See MoreWTO: Trade Policy Review of New Zealand
On 1 and 3 June 2022 the WTO is carrying out a trade policy review of New Zealand. A report has been issued by the WTO Secretariat as a basis for the review. The report notes that New Zealand considers trade as very important for its prosperity.
See MoreItaly: Provisions for new patent box regime
Italian Government issued an additional Decree to amend the Italian Patent Box regime in order to streamline the existing differences between the Italian rules and the OECD recommendations set forth under Base Erosion and Profit Shifting (BEPS)
See MoreUK: Autumn Budget Announcements 2017
The UK’s autumn budget measures were announced on 22 November 2017. Important measures affecting business are as follows: R & D Tax Relief The Research & Development Expenditure Credit (RDEC) rate available to companies claiming under
See MoreUK: Statistics on uptake of patent box relief
On 14 September 2017 the UK government published statistics in relation to the patent box legislation introduced from 1 April 2013. These statistics can be used by the government to assess the benefit to the economy from uptake of the tax relief,
See MoreItaly: Decree issued on urgent measures on tax matters
The Council of Ministers of Italy enacted a Law Decree No.50 with an effort to meet the European Union (EU) demands of extra budget deficit cuts. The Decree was published in the Official Gazette on 24 April 2017 and provides urgent measures on tax
See MoreVietnam: VECITA requests procedure to review goods on e-commerce websites and applications
The Vietnam E-Commerce and Information Technology Agency ("VECITA") published a notice on 20 April 2017 on its web page aiming to promote the authentication of information on counterfeit, prohibited or restricted infringing goods on e-commerce
See MoreBelgium: innovation income deduction bill gazetted
On 20 February 2017, the bill on a new innovation income deduction replacing the abolished patent income deduction was gazetted and the Belgian parliament adopted it on 2 February 2017. The new innovation income deduction applies retroactively from
See MoreBelgium: Parliament adopts draft bill on innovation income deduction
On 2 February 2017, the Belgian parliament adopted the new innovation income deduction, which will replace the abolished patent income deduction. The new innovation income deduction applies retroactively from 1 July 2016. Furthermore, on 2 December
See MoreBelgium launches broader innovation deduction
The Government of Belgium formally pronounced the innovation deduction as the successor of the Belgian patent income deduction on 2 December 2016. The new regime is intended to increase the competitiveness of the Belgian economy while complying with
See MoreRussia: No VAT on foreign IP sales
Intellectual property means the rights or license for copyrights, trademarks and patents to apply. According to the Federal Tax Service, the sales for Intellectual Property (IP) by a foreign company to a Russian company for apply outside of Russia
See MoreLuxembourg: Challenges european commission on Tax Information Injunctions
Luxembourg is to challenge the European Commission in the Court over tax rules that are alleged by the Commission to benefit only specific types of entity. These provisions may be contrary to the state aid provisions in the European Union. The
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