R&D tax incentive proposals announced
Research, Science and Innovation Minister Megan Woods and Revenue Minister Stuart Nash today launched public consultation on proposals for implementing a research and development tax incentive. The objective is to encourage businesses to invest more into research and development. The discussion document seeks public feedback on:
– which types of businesses, R&D activities and expenditure should be eligible;
– the minimum R&D expenditure threshold;
– the maximum cap on R&D expenditure; and
– accountability measures.
Consultation closes on 1 June.