A Study of Taxation Proposal of Intellectual Property Rights Transaction
Asian Tax Journal Vol. 20 No. 5 (2019), pp. 9-28
Abstract
The development and investment of ICT has emerged as a topic of economic development between developed countries, and the management of intellectual property (IP) of new technology has become naturally important. In line with these new paradigms, taxation schemes have also been introduced and implemented. Generally, corporate assets were buildings, land, etc. So the intellectual property right, which is an intangible asset, did not receive high praise. Today, however, the value of intangible assets held by companies has increased, and in some areas the value of intangible assets has become higher than that of tangible assets. Thus, the asset value of intellectual property is increasing, and the tax revenue that can be generated by this is also increasing. In the position of the National Tax Agency, it is necessary to tax income on intellectual property. The proposed taxation related to these intellectual property rights is to secure the country’s finances as the population ages and population declines. It is assumed that the tax law for the rational tax judgment of intellectual property right requires the definition of the concept of intellectual property right. And income taxation can be levied on business income and other income depending on whether the owner of the intellectual property right is a business or non－business. The taxation of income in the position of the taxing agency, must be taxed on the transferred income when transferring intellectual property rights. If the owner of the intellectual property right is a sole proprietor, tax benefits should be granted. The taxation of corporation is based on the calculation of the amount of income deducted from profits. Income derived from intellectual property rights is therefore a loss. However, it is possible to adjust the profit by distinguishing intangible assets such as research expenses in relation to the calculation of the loss. And tax support for R & D to study intellectual property rights.
Keywords
- intellectual property
- income tax
- corporate income
- business income
- other income
- tax benefit
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