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On the eve of the recent G20 summit the UK and German governments released a statement. This1 has significant implications for the UK’s Patent Box tax regime. The statement, which undoubtedly represented something of a compromise, in the wake of objections from several countries, most notably Germany, was nevertheless defended by George Osborne in Parliament […]
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German Finance Minister Wolfgang Schaeuble is working on closing a tax loophole whereby German firms use so-called “patent box” tax breaks available abroad on profits generated from patented research to minimize tax bills, according to a magazine report. Business weekly Wirtschaftwoche said a potential new restriction on the practice, similar to one in place in […]
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Switzerland proposed tax changes that it hopes will resolve a dispute with the European Union over preferential rates offered to multinationals while retaining the country’s appeal as business location. Switzerland will follow 11 EU nations in introducing royalty boxes, which allow lower taxation on revenue from intangible assets such as patents, Finance Minister Eveline Widmer-Schlumpf […]
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Switzerland unveiled proposals on Monday to scrap certain tax breaks for foreign multinational companies but also recommended measures to ensure the country remains an attractive place to invest. Switzerland allows its cantons, or states, to compete for multinationals’ business by taxing their foreign profits at a lower rate than domestic earnings, a practice known as “ring […]
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