Ayming launches latest Global R&D Tax Incentives Benchmark
International consulting firm Ayming has released the 2021 edition of its annual benchmark into R&D-related tax incentives, providing an in-depth overview of the innovation regimes of 15 major countries.
No two R&D tax regimes are exactly alike, and there is a multitude of legislation, interpretation and policy to consider when drawing a comparison. For multinationals, this makes the decision on where to establish research & development activities, and what to expect from the tax authorities, a complex and time-consuming exercise.
With a portfolio of more than 15,000 R&D and innovation project assessment each year across its footprint in 15 countries, Ayming is one of the world’s leading consultancies on R&D taxation. To inform its clients and R&D leaders on how different R&D tax regimes compare, the consulting firm started publishing its ‘Global R&D Tax Incentives Benchmark’ four years ago.
“When we introduced the benchmark we had a clear goal; making it easier for businesses to boost their R&D spending and feel more confident that they are getting the most out of the tax incentives on offer around the world,” said Mark Smith, a Partner for Innovation Incentives at Ayming in the UK.
Now in its fourth edition, the benchmark assesses regimes on a series of comparative metrics which break down incentive schemes according to generosity of the scheme (the monetary value of the incentive in proportion to the investment) and ease of application (how easy it is to make a successful claim and how complex a potential enquiry would be).
Using the benchmark, businesses operating internationally can answer key questions in their decision-making process including: Is foreign-owned R&D eligible?; Must R&D occur in the country?; How many previous financial years are claimable?; Is pre-approval required?; Are other R&D incentives available?; What is the level of review or enquiry expected?
More information: for further details download the 2021 edition of the ‘Global R&D Tax Incentives Benchmark’.
