Illustrative stock photo (source: Unsplash)
Slovakia offers a tax regime under which companies can save 21 percent of the expenses they incur on research, development or innovation. The R&D super-deduction is a very simple tax relief tool that is available to all businesses in Slovakia that invest in research and development. Using this tax deduction, companies can deduct 100 percent of their research and development expenses from their tax base, thereby reducing the tax payable. They can re-use funds they would otherwise have to pay to the state in the form of taxes and, therefore increase their competitiveness.
What are the benefits of claiming the super-deduction?
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There are several advantages for businesses provided by the super-deduction on research and development:
It is simpler and more direct than EU funds and at the same time, is not subject to approval.
It supports the competitiveness and reputation of companies.
It increases the profitability of investments in R&D.
It reduces their tax burden.
