Company tax loophole on residence of patents must be closed

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Company tax loophole on residence of patents must be closed

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Patent valid only when licence fees are taxed

While companies base their patents in tax havens they should not profit from enforcement of those patents in this country. International patents should only be valid in this country where tax is paid on any licence income derived from this country. Any 'payments' on a patent that have no corresponding tax payment should count as undeclared profits for the source company and taxed accordingly.

For example Google UK wouldn't need to pay licence fees to the holding company where the patents reside unless tax is paid on those fees to the Treasury. Any fees that they volunteered to the patent holder without tax payment would count as profits taxable in this country as the patents would be invalid.

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