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Australian Tax Office issues Taxpayer Alert on R&D activities conducted overseas for foreign related entities

|Tax Alerts, Information Reporting, Legis ...|Australia
Australia

  • Taxpayer Alert 2023/5 highlights risks with research and development (R&D) activities ultimately conducted for foreign affiliated entities.
  • Affected taxpayers broadly include inbound life science companies that were incorporated by a foreign parent to undertake clinical trials.
  • R&D tax incentive offsets may have been incorrectly claimed as Australian-owned under Australian R&D tax law, w…

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