Introduction
Introduction
- Research and Development Projects Eligible for Tax Credits:
With the aim of directing tax incentives towards fostering innovation and the knowledge-based economy, in accordance with Article 11, Paragraph (B) of the Law on the Leap in Knowledge-Based Production, companies engaged in research and development activities are eligible for tax credits. This is achieved by granting companies with an operating license or activity permit from relevant authorities tax credits equivalent to the expenses incurred in their R&D projects. These credits are transferable to future years and can be deducted from the corporate income tax for the year in which the expenses were incurred or subsequent years.
🔄 Roadmap for Evaluating Tax Credit Applications
- The image above illustrates the lifecycle of an application from submission to the final outcome. To better understand this process, please consider the following points:
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- 🔹 Referral and Review Stage: Following initial approval by the Secretariat, the case is referred to specialized brokers based on the technology domain. If there are deficiencies in the documentation, the company is obligated to rectify these deficiencies and resubmit the application.
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- 🔹 Specialized Evaluation Stage: Projects are meticulously analyzed for their innovation, systematic approach, and technological nature by the evaluation body (brokers, technical experts, specialized headquarters, and the Tax Credit Committee).
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- 🔹 Outcome Announcement Stage:
- - In case of project rejection: The reasons for non-acceptance will be communicated through the system.
- - In case of project acceptance: The details of the approved project will be announced, and the company is required to implement it precisely in accordance with the plan registered in the system.
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- 📌 Note
- The Tax Credit Secretariat oversees all stages, and the final results will be communicated through the system.
- Catalog for Introducing University R&D Tax Credits
System
System for Providing Information on Research and Development Projects Eligible for Tax Credits
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