R&D tax credits

R&D tax credits are incentives provided by governments to encourage companies to invest in research and development activities. They allow businesses to reduce their tax bill or receive a cash benefit for spending on innovative projects, new products, or improvements to existing processes. Essentially, these credits help offset the costs associated with innovation, making it more affordable and encouraging continuous growth and technological advancement within the company. They are available across various industries and are designed to reward efforts that lead to new knowledge, technologies, or ways of doing things.