(January 14, 2015)
In the times that the European Commission is reviewing the different patent box regimes that are currently in place within the different countries of the European Union and the OECD is working on new rules for the design of such tax incentives, the Irish government on January 14, 2015 launched a consultation process on a Knowledge Development Box (KDB) it intends to introduce.
While new to Ireland, the KDB will be based in part on similar patent box measures existing in other countries. The KDB will provide an effective tax rate for intellectual property (‘IP’) income that is below the normal headline rate of corporation tax.
The Irish government invites interested parties to submit their views on how the KDB should be designed.
The consultation will run from January 14, 2015 until April 8, 2015. Further details can be found in the consultation paper.
Click here to be forwarded to the “Public Consultation Paper: The Knowledge Development Box” as published on the website of the Irish Department of Finance, which will open in a new window.
For further information click here to be forwarded to a press release that was published on the website of the Irish Department of Finance in this respect.
Copyright – internationaltaxplaza.info