Greece Gazettes Law Providing R&D Deductions, Tax Incentives for Research Funding

The Greek Official Gazette July 21 published Law No. 4957 providing R&D deductions and tax incentives for research funding. The law includes measures which: 1) provide a deduction for R&D related business expenses incurred in financing Special Research Refund Accounts (ELKE) of higher education institutions (HEIs); 2) provide a list of R&D related business expenses; 3) exempt profits from internationally recognized patents from income tax for up to three years from the year of profit realization; and 4) allow full depreciation for scientific and other equipment acquired by the ELKE for performing technological and scientific research. The law enters into ...