The Australian Treasury has launched a public consultation on the design of the patent box regime that was announced as part of the 2021 22 Budget. Responses to the consultation are due by 16 August 2021.
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Patent Box
Context and consultation objective
On 11 May 2021, the Australian Government announced that it will introduce a patent box for corporate income associated with patented inventions in the medical and biotechnology sectors. The patent box will apply to companies for incom…