Tuesday’s Budget in Ireland confirmed the information in the Irish National Recovery Plan 2011 – 2014 that the exemption from tax for patents has been abolished, with effect from 24th November 2010 (the date of publication of the National Recovery Plan).
Posts Tagged: ireland
10
Oct 10
Ireland: patent withholding tax exemption introduced
The Irish Revenue issued a Tax Statement of Practice at the end of July (SP-CT/01/10), removing withholding taxes from patent royalties paid to associated companies in another EU member state.
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9
Nov 09
Ireland: Finance Bill provisions on capital allowances for intangibles
At the moment Ireland gives tax relief for know-how and scientific research. However, the new rules widen the scope of intangible assets to include brands and trademarks. Companies carrying out a trade will be able to claim a deduction for the capital costs of acquiring specified intangible assets. The tax deduction is available for offset against income from exploiting IP assets or from the sale of goods/services that derived most of their value from IP.
8
May 09
Ireland: extension of IP tax reliefs, with a potential 2.5% tax rate
From A&L Goodbody, news that the Irish Finance Bill, published on 7 May, provides for tax depreciation for expenditure incurred after 7 May 2009 on the acquisition of qualifying IP and extends the stamp duty exemption to ensure that transfers of IP qualifying for tax depreciation also qualify for exemption from stamp duty.
The relief is available up to a maximum of 80% of the taxable income against which the deduction may be taken (excess depreciation may be carried forward). As Ireland’s corporation tax rate for trading income is 12.5%, the new measures potentially allow for a 2.5% effective rate to be achieved (20% at 12.5%).
23
Apr 09
Ireland: IP tax proposals
From IP Finance: Ireland’s tax proposals for IP investment and transactions
8
Dec 08
Ireland: improvements to film and tv reliefs
Screen Daily reports that Martin Cullen, Ireland’s arts and film minister has confirmed that improvements to Ireland’s Section 481 film and TV tax break are to be introduced as amendments to the country’s 2009 Finance Bill.