Accordingly, applications were submitted for at least 9,700 projects, of which 80 percent were on the part of small and medium-sized enterprises (SMEs). Companies in Austria can apply for the research tax credit of fourteen percent for expenditures in the field of research and development, for example staff costs for researchers or expenses for research devices. The research tax credit was increased from twelve to fourteen percent in 2018.
With its research to GDP ratio of 3.19 percent, Austria is rated second among the EU member states, and relies on the funding and support of innovations and digital technologies in its marketing efforts to attract investors. The tax incentives for research carried out by companies in Austria, featuring a research tax credit of fourteen percent, receive excellent marks in an international comparison.
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