European Union Research & Development Incentives
Innovative companies are playing key roles in their national economies, with research and development investments made by business being substantial drivers of growth and prosperity for nations. Due to this R&D incentive regimes are being reformed world wide at an unprecedented rate to accommodate and attract highly innovative companies to invest in their economy.
Many countries promote and encourage R&D operations in their economy as part of strategic plans to increase research activities and develop their nation. Countries which offer R&D tax incentives are considered favorable locations for internationally-mobile R&D companies.
The South African government aim to incentivize R&D that represents innovation produced within the country. The R&D regime was made available in November 2006 with legislation being update to require preapproval for the additional deduction.