Corporate Reorganization and transfer of intangibles

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This research surveyed the concept of intangibles both in Japan and in the United States, transfer of intangibles through corporate acquisitions, corresponding transfer of tax benefits, and international tax avoidances relating intangibles. The following changes will improve the taxation relating to intangibles.1. The concept of intangibles should be clarified. Intangibles should be recognized whether they are intently created or not. The standard of recognition should be whether their economic effect comes up to the next taxable year, and this judgment should be done prospectively, not out of hindsight.2. Tax -preferences relating to intangibles should be given not only their creation but also then acquisition. The existing preferences to research and development is improper because they can be manipulated easily.3. Tax preferences of intangibles should be controlled when the ownership of the corporation with significant intangibles changes, as well as the existing control points of when intangibles are transferred.4. These control should be imposed in principle when intangibles or the stock of corporation with intangibles transferred abroad. However, alternative way of control, for example, taxation to the revenue from intangibles, should be developed in order not to impede their international transaction.