CIT reliefs. Part 1
In order to promote innovative initiatives and support pro-development activities, a number of CIT reliefs have been in effect since 1 January 2022.
Our latest series of posts titled “CIT tax reliefs – that’s worth knowing” takes a closer look at the underlying principles governing the application of selected tax reliefs.
R&D TAX RELIEF
Who can apply?
Entities that carry out R&D activities, i.e.
- scientific research and
- development activities aimed at, among other things, designing and creating modified, improved, or new products, processes, or services.
How much can you gain?
By applying the R&D tax relief, certain R&D-related costs can be deducted from the tax base.
Moreover, starting from 1 January 2022 the R&D tax relief has been expanded with the addition of the so-called innovative employees tax relief. This relief allows for the deduction of R&D-related costs from the advance CIT payments of employees engaged in R&D activities. Thus, the relief has also been made available to entities reporting a tax loss.
PROTOTYPE RELIEF
Who can apply?
Entities that incur costs connected with the trial production or marketing of a new product created as part of R&D activities.
How much can you gain?
By applying the Prototype relief, taxpayers can deduct 30% of certain costs related to trial production or the launch of a new product from their tax base. The deduction cannot exceed 10% of the income generated in a given tax year.
Should you have any additional questions regarding the aforementioned CIT reliefs, please contact the TIAS Tax Department at: office@tias.pl.
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