Innovation-minded investors get tax breaks

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The “innovation bill” signed by the Polish President Andrzej Duda offers relief for innovation-minded investors. Two years tax breaks, contributions tax removal, and the inclusion of R&D costs into tax-deductible expenses are supposed to boost innovation.

The Polish President has recently signed the “innovation bill” in a bid to encourage investment in innovation in Poland. There are three main pillars of the bill. Tax breaks for innovations has been extended to a two-year period, the contributions have been removed and investors are able to deduct R&D costs while filling in the tax form. Intellectual and industrial property and are no longer subject to tax. The bill aims to improve the current state of venture capital by rewarding investment funds that decide to invest in R&D.

The new set of regulations allows universities and research institutes to manage money more freely. From now on, educational institutions don’t need to ask the Minister of State Treasury for approval regarding estate purchase, sale or licensing. Moreover, the goods disposal threshold has been raised from 50.000 to 250.000 euro.

In the official communiqué issued by the Ministry of Science and Higher Education, it is stated that some of the regulations go hand in hand with the ministerial plan to internationalize higher education in Poland. Soon foreigners will not need to have a work permit to live in Poland, which should incentivize them to study there. That should attract foreign researchers and specialists to work in Poland.

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Innovation-minded investors get tax breaks