The purpose of this paper is to discuss tax and accounting issues related to the evolution of the intellectual property box in Portugal and present a preliminary view of its impact. In 2014, Portugal adopted an Intellectual Property (IP) box, exempting from corporate taxation half of the gross revenue obtained from selling IP rights. In 2016, the country adopted a new IP regime, in line with BEPS’ recommendations, with stricter rules for exempting income. The “modified nexus approach”, recommended by the OECD, was the cornerstone of legal changes. The research questions addressed in this paper are as follows: was the Portuguese IP box, set up in 2014, internationally competitive in terms of the scope of qualifying assets and the tax rate when compared to other EU countries? Could its legal design induce potential corporate tax avoidance? Does the new IP box framework reduce avoidance opportunities and does it increase tax and accounting complexity for companies and tax auditors?,The methodology used in this paper is based on the legal research method combined with a case study analysis of the IP box in Portugal. The economic motivation for legal changes, the interaction between the tax authorities and the policy makers in the wake of BEPS’ recommendations, and the economic crisis that Portugal faced, influenced legislative options. A multidisciplinary approach is required to analyse the IP box modifications, and the methodology follows this line of enquiry.,The author concludes that the 2014 IP box was not competitive in terms of the scope of qualifying assets and the tax rate. However, it could be a potential tool for tax avoidance, mainly linked to transfer pricing strategies. Legal changes, introduced in 2016, by enacting stricter rules for granting tax benefits, fit a worldwide trend of restraining profit shifting opportunities linked to intangibles. The new framework clearly impacts tax and accounting complexity, for companies and tax auditors. Preliminary data, for 2014 and 2015, show a negligible impact of the IP box on corporate taxation.,The “modified nexus approach” is not a definitive panacea for fighting tax avoidance. Multinationals may move resources (e.g. highly specialized persons) to entities that are developing IP, curtailing the restriction associated with acquiring services from related parties. Tax authorities may fight these schemes, but face a challenging task. The grandfathering option and new accounting choices related to expense allocation are delicate issues. Not all countries adopted BEPS’ recommendations at the same time, which may impact international profit shifting activities and increase tax authorities’ costs to control them. The paper also provides preliminary and exploratory evidence that IP boxes, per se, do not suddenly raise the R&D activity of firms.,The analysis highlights legal, accounting and economic issues in dealing with changes in investment incentives and can or may be a useful remainder for countries in the process of setting up, or amending, IP boxes.

中文翻译：

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葡萄牙知识产权专栏：设计投资激励措施时的问题

本文的目的是讨论与葡萄牙知识产权框的演变有关的税收和会计问题，并就其影响提供初步的看法。2014年，葡萄牙采用了一个知识产权（IP）框，免除了出售知识产权的总收入的一半的公司税。2016年，该国根据BEPS的建议采用了新的知识产权制度，并规定了更严格的免税规定。经合组织建议的“修改后的联系方式”是法律变化的基石。本文研究的研究问题如下：2014年设立了葡萄牙语IP框，与其他欧盟国家相比，在合格资产范围和税率方面是否具有国际竞争力？它的法律设计能否引起潜在的公司避税行为？新的IP Box框架是否会减少回避机会，是否会增加公司和税务审计师的税收和会计复杂性？本文所使用的方法基于法律研究方法，结合葡萄牙IP Box的案例分析。BEPS的建议出台后，法律变革的经济动机，税务机关与决策者之间的互动以及葡萄牙面临的经济危机影响了立法选择。需要使用多学科的方法来分析IP盒的修改，并且该方法遵循这一询问线。作者得出的结论是，就合格资产的范围和税率而言，2014年的知识产权框不具有竞争力。但是，它可能是避税的潜在工具，主要与转让定价策略相关。2016年引入的法律变更通过制定更严格的税收优惠规则来适应世界范围内限制与无形资产相关的利润转移机会的趋势。对于企业和税务审计人员而言，新框架显然会影响税收和会计的复杂性。2014年和2015年的初步数据显示，知识产权保护框对公司税收的影响微不足道。“改良的联系方式”并不是抗击避税的最终灵丹妙药。跨国公司可能会将资源（例如高度专业化的人员）转移到正在开发知识产权的实体中，减少与从关联方获取服务相关的限制。税务机关可能会与这些计划作斗争，但面临艰巨的任务。与费用分配相关的优先选择和新的会计选择是很棘手的问题。并非所有国家都同时采纳了BEPS的建议，这可能会影响国际利润转移活动，并增加税务部门控制它们的成本。本文还提供了初步的和探索性的证据，表明知识产权保护本身本身并不会突然提高公司的研发活动。该分析着重指出了应对投资激励措施变化的法律，会计和经济问题，并且可以或可能是有用的剩余部分。适用于正在设置或修改IP盒的国家。但面临艰巨的任务。与费用分配相关的优先选择和新的会计选择是很棘手的问题。并非所有国家都同时采纳了BEPS的建议，这可能会影响国际利润转移活动，并增加税务部门控制它们的成本。本文还提供了初步的和探索性的证据，表明知识产权保护本身本身并不会突然提高公司的研发活动。该分析着重指出了应对投资激励措施变化的法律，会计和经济问题，并且可以或可能是有用的剩余部分。适用于正在设置或修改IP盒的国家/地区。但面临艰巨的任务。与费用分配相关的优先选择和新的会计选择是很棘手的问题。并非所有国家都同时采纳了BEPS的建议，这可能会影响国际利润转移活动并增加税务部门控制这些活动的成本。本文还提供了初步的和探索性的证据，表明知识产权保护本身本身并不会突然提高公司的研发活动。适用于正在设置或修改IP盒的国家/地区。这可能会影响国际利润转移活动并增加税务机关控制这些活动的成本。本文还提供了初步的和探索性的证据，表明知识产权保护本身本身并不会突然提高公司的研发活动。该分析着重指出了应对投资激励措施变化的法律，会计和经济问题，并且可以或可能是有用的剩余部分。适用于正在设置或修改IP盒的国家。这可能会影响国际利润转移活动并增加税务机关控制这些活动的成本。本文还提供了初步的和探索性的证据，表明知识产权保护本身本身并不会突然提高公司的研发活动。该分析着重指出了应对投资激励措施变化的法律，会计和经济问题，并且可以或可能是有用的剩余部分。适用于正在设置或修改IP盒的国家/地区。