Patent Royalty Tax Exemption Abolished

Posted on December 8, 2010 by Judith Wrixon

Yesterday's Budget saw the patent royalty tax exemption abolished as announced in the National Recovery Plan 2011 - 2014. Similarly, the tax exemption for distributions made by companies from (previously) exempt patent income was also abolished.

Abolition takes effect from 24 November 2010 - the date on which the Plan was launched.

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