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>[26.jun.07]
General - Law
no. 11.487 of June 15th, 2007: Amendments to Technological
Innovation Tax Incentives
Source: Infomail ABREU, MERKL no 14
On
15.Jun.2007 was enacted the Law No. 11.487/2007 that
amends the Law No. 11.196/2005, commonly known as “The
Good Law”, and which provides a number of tax
relief provisions, including a full chapter directed
to technological innovation incentives (about Law No.
11.169/2005 see Infomail No. 05/2005).
Basically, the Amendment
provides that R&D expenditures made with projects
executed by Scientific and Technological Institutions
(ICTs, i.e.: public R&D institutions defined by
the Law No.10973/2004 Innovation Law) may be deducted
as operating expenses from the Corporate Income Tax
(IRPJ) and from the Social Contribution on the Net Profits
(CSLL). The deduction may be from 50% to 250% of the
expenditures; however, the ICT will have a right to
joint ownership over the intellectual property (IP)
rights that may result from the R&D project, with
an interest that corresponds to the ratio of difference
between the deduction and the expenditures, and the
total amount of the project.
The use of tax relief
is subject to an approval of the project by a Committee
composed by representatives of the Ministry of Science
and Technology, the Ministry of Development, Industry
and Foreign Trade and the Ministry of Education. Although
the Amendment is already in force, its applicability
depends upon regulation by the Executive Power.
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