The Czech Republic amends its investment incentives to boost R&D
The Ministry of Industry and Trade of the Czech Republic has decided to further support the ongoing transformation process the Czech economy by introducing a new bill. Its aim is to incentivize R&D activities of domesting, as well as foreign companies.
The main focus is to shift from creating job opportunities to fostering a strong and fast-developing research and development base, which will ultimately contribute to improving the living standards in the Czech Republic.
The new bill addresses mainly high technology, BSS centers, and SMEs. Regional development and the utmost value added are the main drivers of the tendency to take a different angle at nurturing a competitive, viable and innovative environment.
Having recognized the tremendous importance of technology and unstoppable development of the sector, the Czech Republic is ready to offer grants for training and job creation with a focus on research and development on the whole territory, only with the exception of Prague.
The government has dedicated funds into these forms of support:
- Corporate income tax relief for a period of 10 years
- Cash grant of 200,000 CZK (apx. 8,566 USD) for each created job
- Up to 50% of training costs
- Cash grant for acquisition of assets up to 20% ofeligible costs
Moreover, foreign employers will be able to get grants for part-time job positions, which was previously not possible.
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