Germany May Close Foreign 'Patent Box' Tax Loophole

J LSep 29, 2014Legal

Business weekly Wirtschaftwoche said a potential new restriction on the practice, similar to one in place in Austria, could bring in an extra 1 billion euros (800.29 million pound) a year in corporate tax revenue for Germany.

Germany may close foreign 'patent box' tax loophole - report | Reuters
BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble is working on closing a tax loophole whereby German firms use so-called patent box tax breaks available abroad on profits generated from patented research to minimize tax bills, according to a magazine report.