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Tax break for IP rights expanded


The Inland Revenue (Amendment) (No.5) Ordinance 2018 was gazetted today to expand the scope of profits tax deductions for enterprises buying intellectual property rights.

 

The additional three types of IP rights involved are in layout design (topography) of integrated circuits, plant varieties and performances.

 

The original five types of IP rights are patents, know-how, copyright, registered designs and registered trademarks.

 

The amendment came into operation today and is effective from the 2018-19 tax year.

 

The Commerce & Economic Development Bureau said the move will encourage enterprises to engage in the development of IP trading business and promote Hong Kong as an IP trading hub in the Asia-Pacific region.


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