On Friday, Senator Barack Obama (and former University of Chicago Law Professor) along with Senators Levin (D-Mich) and Coleman (R-Minn) filed a new bill to “stop tax haven abuse.” Included in the bill is a provision that would prohibit the USPTO from issuing patents for:
inventions designed to minimize, avoid, defer, or otherwise affect liability for Federal, State, local, or foreign tax.
The main focus of the Bill would be to “impose tougher requirements on U.S. taxpayers using offshore secrecy jurisdictions, give the U.S. Treasury the authority to take action against foreign jurisdictions that impede tax enforcement, stiffen penalties against abusers and close offshore trust loopholes.”
Please: No comments that are not about patents.
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