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Taxing the immobile
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| The Treasury has ditched controversial proposals to raise additional tax from
| companies that locate intellectual property, such as drug or technology
| patents, in low-tax countries.
|
| [...]
|
| A number of multinationals had warned that their tax bills would rise to
| unacceptable levels if the Treasury were to tax earnings generated abroad
| from patents and other forms of intellectual property.
|
| Some threatened to move their headquarters overseas to escape the incremental
| tax.
|
| A Treasury official said that the government had been surprised by quite how
| many companies feared they would pay additional tax.
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http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/07/taxing_the_immobile.html
Recent:
Intellectual Property Regime Stifles Science and Innovation, Nobel Laureates
Say
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| Patent monopolies are believed to drive innovation but they actually impede
| the pace of science and innovation, Stiglitz said. The current “patent
| thicket,” in which anyone who writes a successful software programme is sued
| for alleged patent infringement, highlights the current IP system’s failure
| to encourage innovation, he said.
|
| Another problem is that the social returns from innovation do not accord with
| the private returns associated with the patent system, Stiglitz said. The
| marginal benefit from innovation is that an idea may become available sooner
| than it might have. But the person who secures the patent on it wins a
| long-term monopoly, creating a gap between private and social returns.
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http://www.ip-watch.org/weblog/index.php?p=1129
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