Super Deduction and Patent Box
Greece offers a variety of R&D tax incentives to promote innovation, research and development, economic growth and job creation within the country.
Description of Incentive
Greece offers a super deduction of 130% of qualifying expenses. On top of the super deduction, a 3-year accelerate amortization of 40% on equipment and tools used in qualified R&D projects is available. Both benefits can be carried forward for up to five years.
Greece also offers a patent box regime in the form of a tax deferral. Profits gained from international patents are not subject to tax for the first three years.
Greece has a broad eligibility criteria and it is not limited to certain industries. Furthermore, qualifying expenditures are widely defined and include all direct costs incurred in R&D.
Qualified expenses for the super deduction include:
- labor costs of R&D personnel
- costs relating to intellectual property
- Design and development costs incurred during the R&D project
- Contract research services if performed by an approved R&D organization
Greece does not require that the R&D be conducted in Greece, but the location of where the R&D did take place must be disclosed to the General Secretariat of Research and Technology (GRST). It is up to the GRST if the claim is approved.
Swanson Reed offers the following services:
- Advice on tax preparation relevant to claiming the R&D tax credits incentive
- Preparation of documents relating to filing and substantiating a R&D taxation claim
- R&D tax advice and consultations
- R&D tax claim planning and preparation
For a full range of services in relation to the credit, please click here.