can someone please explain to me how the R&D tax credit results in a tax rate of 3.3% as claimed in this report?https://twitter.com/TaxJusticeNet/status/1011250716994777089 …
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Yes. When qualifying R&D is carried out it creates a negative tax charge as companies get a repayment of tax if the CT liability can't absorb the credit. There is no general 3.3% (though very specific figures could give that result I suppose).
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Going to bet they looked at the 25% r&d credit and multiplied it by the CT rate.
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