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US lawmakers studying patent box tax approach
Tax break will benefit technology, pharmaceutical companies which are already adept at avoiding taxes
Add BT as a preferred sourcePublished Wed, Jun 24, 2015 · 09:50 PM
New York
US lawmakers are exploring a new corporate tax break that would benefit companies already adept at avoiding taxes.
The idea - known as a patent box or innovation box - would impose a lower tax rate on income generated from patents and other intellectual property housed in the US. This would aid technology and pharmaceutical companies trying to maintain low tax rates that they've achieved by booking income in overseas tax havens.
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