The large tax exemptions for businesses investing in research and innovation were reported by the Secretary General of Research and Innovation, Tasos Gaitanis, during the Board of Directors of the Athens Chamber of Crafts, under the President of the Chamber of Commerce Constantine Damigos.

Mr Gaitanis said that in 2020 the government increased the rate of surcharged survey to survey to 100%, from 30% in force. Whereas, in some cases, 200% and 315% now reaches 315%.

“The General Secretariat for Research and Innovation gives a significant motivation to the very large tax exemptions in all businesses – small, medium, large – for research and innovation costs. Because more research and innovation means stronger businesses. Especially tax exemptions are very important to smaller businesses. And they lead to more jobs, better pay and a better future for employees, “according to Mr. Gaitanis.

As he recalled, the expenditure on research and innovation are deducted from the gross income of businesses in double the expenditure and are related to depreciation of building costs, equipment, purchase of specialized computer scientific programs, up to current operating costs, and current operating costs. In addition, spending can be included in internal & abroad for collaboration with other laboratories.

Tax rates are as follows:

  • Scientific & technological research expenditure deducts from gross business revenue at the time of their implementation, increased by 100%.
  • Expenditure paid to provide a project or service to:

– Businesses registered with the National Register of Neophy Companies, University Research & Innovation Centers,

– Institutes or Technological Bodies,

– Research centers,

– Research University Institutes,

– Common Research Institutes,

– They are deducted from the gross income of these businesses, at the time of their realization, increased by 150%.

  • Expenditure on very small, small and medium -sized enterprises (SMEs) are deducted from the gross revenue of these businesses at the time of their implementation, increased by 200%. It is the costs of scientific research & technology to correspond to more than 20% of the costs. They exceed the average of the corresponding costs of the past 2 years, there is a further increase of 15%.

Examples

* The tax exemption that a business with scientific & technological research costs will have € 100,000 is 44,000 euros.

* The tax exemption that a business will have with scientific & technological research costs of € 100,000 is 55,000 euros.

The tax exemption requests relate to the projects/costs of scientific and technological research of the latter to close tax year. Expenditure is deducted from the gross income of each business during their tax year.

According to Mr. Gaitanis, a business that is part of the world of innovation wins the following:

* Access to cooperation networks with research centers and universities

* Enhance competitiveness through the development of innovative products or services

* Interconnection with international markets and participation in research projects

* Continuous evolution and adaptation to modern technological trends.

The Secretary-General recalled that interested businessmen, who wish to invest in innovation, can obtain more information at https://gsri.gov.gr/protovoulies-draseis/pistopoiisi-dapanon-et-erevnas-ton-epicheiriseon/.

For his part, Mr. Damigos noted: “The issue is vital to our members who are mainly, very small and small businesses, who are trying to put their obligations in order to ensure their survival and evolution. It is clear and I think we all agree on this, that investing in research and innovation is an investment in the future. We must constantly strengthen our country’s position in the European economy. “