Business R&D Tax Relief Is Key to Support From OECD Countries

Tax incentives for business research and development surpass grants and procurements as the main form of government support across most OECD countries, according a new report.

About 55% of total government support for business R&D were tax incentives, with 34 out of 38 countries in the Organization for Economic Cooperation and Development offering some tax relief for R&D expenditures in 2024, the body said in a statement.

The UK, Portugal, and Iceland offered the highest levels of tax support and total public R&D support as a percentage of GDP, the statement said.

• Some countries offer tax benefits differently ...