“Why someone would pay tens of thousands for something they could get for nothing, is beyond me, says Rita Schage. She is an Agder representative of Innovation Norway, and an expert on the tax incentive scheme SkatteFUNN.
SkatteFUNN is a government program that is designed to stimulate research and development in Norwegian trade and industry. Businesses and enterprises that are subject to taxation in Norway are eligible to apply for tax relief.
Approved projects may receive a tax deduction of up to 20 per cent of the eligible costs related to R&D activity. All costs must be associated with the approved project.
Costs associated with certain R&D project activities are tax deductible under the scheme. To qualify as R&D, any activity must meet the definitions set out by the Research Council of Norway. If the tax deduction for the R&D expenses is greater than the amount that the firm is liable to pay in tax, the remainder is paid in cash to the firm. If the firm is not liable for tax, the entire allowance is paid in cash.
All branches of industry and all types of companies can apply to the SkatteFUNN tax deduction scheme.
Both Innovation Norway and The Research Council of Norway will assist companies in writing the application; free of charge.
“Submitting an application is not very complicated. A large number of companies require no help at all. However, if you need assistance, we are happy to help”, says Schage.
Rita Schage, Innovation Norway, 957 03 962
Siren M. Neset, Research Council of Norway, 930 83 537
