During a 2-hour webinar on 15 March, representatives from The Research Council of Norway (RCN), Innovation Norway and SIVA will provide the essentials on how to obtain public support for R&D projects. All parties are important parts of the national incentive structure for innovation.
Tor Borgar Hansen from RCN says companies can have a lot to gain from knowing the arrangements and deadlines for applying for financial support. During the webinar, Hansen will talk specifically on the tax incentive scheme “SkatteFUNN”, which is a real treasure chest.
“SkatteFUNN is a very favorable tax credit scheme for both small, medium-sized and large companies. SkatteFUNN is open to all companies that are permanently established in Norway if the R&D costs can be attributed to future earnings of the Norwegian company. 19 percent of the project costs can be covered. The typical tax gain amounts to NOK 600,000-800,000 for a small to medium-sized company”, says Hansen.
Although the authorities offer billions in tax relief for companies every year, the scheme has been less popular in recent years.
“It is my understanding that many businesses are unaware of the scheme,” says Hansen.
In addition to “SkatteFUNN”, Hansen and his colleagues in Innovation Norway and SIVA will talk about several other schemes, such as demonstration projects and innovation projects, which both have application deadlines on 7 June.
“NODE companies with R&D projects in their pipelines are strongly encouraged to compete for these funds. There are substantial funds to be allocated in 2023”, says Hansen.