Research and Development Tax Credits

Research and Development (R&D) Tax Credits are financial incentives offered by governments to encourage companies to innovate and develop new products, services, or processes. They reduce a company's tax bill by providing a credit based on eligible R&D expenses, such as employee costs, materials, and testing. This support helps offset the high costs of innovation, making it more financially feasible for businesses to invest in research activities that can enhance their competitiveness and drive economic growth.