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No they say the tax for European sales is due in Bermuda, which owns the IP. There is no tax in Bermuda, and no IP was created there.
by justincormack 11y ago
No they say the tax for European sales is due in Bermuda, which owns the IP. There is no tax in Bermuda, and no IP was created there.
- sokoloff 11y agoAs a Bermuda company, I could invest in sub-contract software engineers who create IP as a work made for hire (and that the Bermuda company would own). In that case, was the IP created in Bermuda or where the software engineers were pressing keys? In a case where the IP was created in country X and later sold to a company in country Y, is country X owed a continuing taxation revenue stream after the sale closes (and any taxes due related to the sale are paid/accounted for)?