That’s right. Stupid!
According to tax experts interviewed for this report on CBS news, the savings achievable by US companies moving some of their intellectual property rights to Ireland is so good that you would be stupid not to.
According to the report, the USA, with a headline rate of 35%, has the highest corporation tax rate in the developed world. In comparison Ireland’s rate of 12.5% may be reduced to as low as 2.5% for income derived primarily from intangible assets such as intellectual property.
Cisco CEO, John Chambers, drives home the point. Chambers emphasises that one of the key responsibilities of the US multinational CEO is the reduction of the effective corporation tax rate.
New Morning IP works with US companies to legitimately reduce their corporation taxes on intellectual property income. If you are a CEO or are responsible for your corporation’s tax rate then please email or call +353-1-254 2340 to find out how you could save money.
The Irish government’s decision to abolish a tax exemption on income from patent royalties does not close the door to foreign companies who want to monetize their patent assets in Ireland.
Richard O’Connor of patent attorneys Cruickshanks, speaking to Silicon Republic, has criticised the government’s decision to abolish the tax exemption on patent royalties. O’Connor wonders how the government can justify the termination of this incentive in light of its policy to promote the Smart Economy and increase R&D particularly given that the government will continue to pump almost half a billion per year into third level research. The patent royalty exemption was one of the key incentives for domestic SMEs and inventors.
On the other hand Ireland remains a very attractive place to hold, acquire and create intellectual property. A wide range of benefits remain available to international companies wishing to manage their intellectual property in a strategic overseas jurisdiction.
We offer international clients a cost effective managed licensing service to outsource all or part of their intellectual property operation quickly and cost effectively.
Why not contact us today to find out more.
The UK budget introduces a “patent box” with a ring-fenced low tax rate for certain patent income. In addition changes are made with regard to R&D expenses for SMEs.
The former Community Patent is now the EU Patent but is it any closer to reality? After almost 40 years senior Commission official thinks it is “dead in the water“. Barnier and Belgium vow to press on with the project. Look out for legislation and opinion of the CJEU towards the end of the year. Is it a case of good-cop/bad-cop. More balanced view from IPEG.
IP meets competition after Microsoft: Good review of possible Commission plans to introduce legislation mandating software interoperability in certain circumstances. Timely in light of recent complaint against SAP.
Commission launches consultation on net neutrality. Context of Digital Agenda.
China has a plan.