OECD: Research and Development Tax Incentives and Effective Tax Rates

05 August, 2021

On 28 July 2021 the OECD published on its website tax working paper no 54 entitled Corporate Effective Tax Rates for R&D: The case of expenditure-based R&D tax incentives, written by Ana Cinta González Cabral, Silvia Appelt and Tibor

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Armenia: Parliament extends the tax incentives for exporters

08 June, 2021

On 26 May 2021, the Parliament of Armenia has approved a bill on extending the tax incentives for exporters to 31 December 2029. The provided incentive was scheduled to 31 December 2021 for resident companies that are exclusively engaged in exports

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UK: Statistics for Funds raised under EIS, SEIS and SITR

31 May, 2021

On 27 May 2021 the UK government published statistics for the Enterprise Investment Scheme (EIS), the Seed Enterprise Investment Scheme (SEIS) and Social Investment Tax Relief (SITR). The latest statistics set out the amount of funds raised by

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IMF: Report looks at fiscal policy in Hungary

04 May, 2021

On 3 May 2021 the IMF issued a concluding statement following a consultation with Hungary under Article IV of the IMF’s articles of agreement. Following a 5% contraction in output during the pandemic in 2020 the economy is expected to recover

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OECD: Tax Policy Reforms 2021

26 April, 2021

On 21 April 2021, the OECD published Tax Policy Reforms 2021 giving an overview of the tax policy of around 70 jurisdictions, including the OECD and G20 countries and some members of the Inclusive Framework on base erosion and profit shifting

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OECD: Policies for a Climate Neutral Industry

23 April, 2021

On 15 April 2021 the OECD issued a Science, Technology and Industry Working Paper looking at lessons to be learned from the Netherlands on policies for a climate neutral industry. The approach taken by the Netherlands combines a commitment to

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IMF Blog Looks at Securing a Green Recovery

16 April, 2021

In an IMF blog post of 15 April 2021 the IMF Director General looks at policies to secure a green recovery. The blog notes that following the period of disruption due to the pandemic a few economies, led by the United States and China, are

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IMF and World Bank: Discussion of Global Minimum Tax and Developing Countries

13 April, 2021

On 13 April 2021 the IMF and World Bank held a tax conference entitled Minimum and Digital Taxation: Consensus or Divide? Discussion of the minimum tax centred on the G20 and OECD Pillar Two proposals currently under discussion. There are two

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IMF: Fiscal Monitor Looks at Tax Policy for the Recovery

09 April, 2021

The IMF Fiscal Monitor for April 2021 entitled A Fair Shot discusses actions in response to COVID-19 and looks at policies that can prepare for a greener and more durable recovery. Low-income countries currently have large budget deficits and

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WTO: Discussion on MSMEs and Green Technology

15 March, 2021

At the meeting of the Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS) on 10 and 11 March 2021, members discussed among other topics the use of IP by small businesses in relation to innovations in green technology. The

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UK: Statistics on Venture Capital Trusts

23 December, 2020

On 17 December 2020 the UK released statistics on Venture Capital Trust (VCT) tax relief for the year 2019/2020. The statistics on VCT tax relief are released annually and are important for monitoring and assessment of the effectiveness of the tax

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WTO Adopts Package of Recommendations to Assist MSMEs

17 December, 2020

On 11 December 2020 the WTO’s Informal Working Group on Micro, Small and Medium-sized Enterprises (MSMEs) adopted a package of six recommendations and declarations concerning problems encountered by MSMEs when engaging in international trade. The

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UK: Evaluation of the Patent Box regime

02 December, 2020

On 17 November 2020 the UK published an evaluation of the patent box regime. The patent box was designed as an incentive for companies to retain and commercialise their intellectual property in the UK. A lower 10% rate of corporation tax is

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UK: Changes to the Research and Development Tax Credit for SMEs

14 November, 2020

On 12 November 2020 the UK government published draft legislation aiming to prevent the abuse of research and development (R&D) tax relief by small and medium companies (SMEs). This follows extensive consultation on the issue. The SME

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UK: Further draft legislation published for Finance Bill 2021

14 November, 2020

On 12 November 2020 the UK government published for consultation further draft legislation in relation to the Finance Bill 2021. Comments are invited by 7 January 2020. This follows the publication of draft legislation on 21 July 2020 in

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WTO: Recommendations to assist small business

07 November, 2020

At a meeting on 5 November 2020 the Informal Working Group on Micro, Small and Medium-sized Enterprises (MSMEs) completed a package of six recommendations and declarations to assist the participation of MSMEs in international trade. The

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UK: Statistics on Research and Development Tax Relief

02 October, 2020

On 30 September 2020 HMRC published the statistics for claims for research and development (R&D) tax relief in the UK. By monitoring tax relief schemes HMRC can examine the level of use of the schemes and gain some insight into the

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IMF: Securing China’s Post-Pandemic Recovery

27 September, 2020

On 24 September 2020 a blog post by the IMF’s First Deputy Managing Director Forum on National Affairs looked at reforms needed to ensure China’s recovery from the economic problems caused by the pandemic. Global Economic Outlook The blog

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