Latest On EU Challenge To UK Patent Box

Last month it was reported that the EU Commission is to investigate whether the UK patent box scheme is in breach of the EU Code of Conduct on Business Taxation, see e.g.:

A European Challenge to the UK Patent Box

The latest development is that the Council meeting in Brussels on 10 December discussed business taxation and has invited the Code of Conduct Group to assess or consider all patent boxes in the EU, including those already assessed or considered before, by the end of 2014. The aim is to "ensure consistency with the principle of equal treatment, also against the background of international developments, including those in relation to the OECD Base Erosion and Profit Shifting (BEPS) initiative". The Group is to report back on its work to the Council by the end of the Greek Presidency i.e. by the end of June 2014.