TaxCorporate TaxObama looks to R&D tax credits expansion

Obama looks to R&D tax credits expansion

Permanent R&D tax credit plans by US president Barack Obama

Research and development tax credits could be expanded in the US under plans
by its president.

Barack Obama is set to outline details for an expansion of the US current R
&D tax credit scheme, to help its economy improve, wrote the FT.

The simplified credit will be increased from 14% to 17% This credit is for
companies unable to claim the main credit because R&D has declined as a
percentage of sales.

However, a bill is unlikely to be passed before mid-term campaigning begins.

Further reading:

Obama:
asset or liability?

US
Treasury defends Obama tax reform plans

Cayman
Islands urge Obama to cease criticism

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