Tax reliefs for innovativeness

The Ministry of Economy has presented a new bill concerning tax reliefs for the most innovative companies.

The most innovative firms can be granted a new tax relief. The Ministry of Economy suggested the possibility to deduct the costs of research and development from the tax, starting from 2014.

We are proposing the "innovative relief" for the Personal Income and Corporate Income Taxes. Such solutions have been adopted in some European countries and proved successful – says  Janusz Piechociński, vice prime minister and minister of commerce. – We would like to boost the economy.  In the previous years, we have significantly increased our expenditures on what is called research and development, both from the public and the European funds. But these are usually lecture halls, laboratories and equipment.

The new tax relief is supposed to encourage innovation of Polish enterprises. The Minister of Commerce considers the project a part of the Enterprise Development Plan until 2020, realised within the EU budget.  – We wish to revert the proportions where the old and new perspectives on EU funding meet, so that Polish science and commerce work together to produce actual implemented inventions or technological solutions, in a matter of months – said Janusz Piechociński during the CeBIT trade fair in Hannover.

The vice prime minister adds that the greatest problem may consist in introducing the bill in the Ministry of Finance. – We may encounter objection on the part of those who look after the income budget in the parliament. But we must not restrict ourselves to economizing; it is necessary that we make investments as well. New investments in development and the introduction of innovative solutions in various industries are the only chance for rebuilding the competitiveness of Polish economy on a larger scale than ever before. – observes the minister.

The bill is at the stage of interdepartmental consultations. If other ministries express their approval, it should undergo the complete legislative process and come into force at the beginning of 2014.

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