As countries focus on maintaining economic balance and hope for steady economic growth, R&D tax incentives have become popular ways to attract investments. Recently, several countries have introduced or propose to introduce incentives for R&D activities in their governments to increase their global competitiveness.
The PwC Global R&D Incentives Group, now made up of more than 30 countries around the world, continues to collaborate to assist clients in examining their global R&D outlay in order to augment their return on investments in light of these developments and trends.
In this issue of Global R&D Tax News, we highlight recent changes undertaken in a few countries along with developments that may impact R&D planning around the world. Developments include: United Kingdom R&D reform, joint audits, Canada Revenue Agency documentation guidelines, Ireland tax changes, and United States issuance of final regulations that impact the calculation of the Alternative Simplified Credit.