November 22, 2019. This month, Vertech Group has been accredited by the French Ministry of Education, Research and Innovation to operate as a recognized private organism for Research and Innovation for the 2019-2021 period.
Already recognised in the Research and Innovation sector thanks to its involvement in the Horizon 2020 programme (the biggest European Union Research and Innovation programme financed by the European Commission); Vertech Group will now be able to offer a 30% tax deduction to its clients and partners from the research and innovation industry.
This tax deduction will apply to all Vertech Group services including all ranges of Sustainability Assessment (Life Cycle Cost, Social Life Cycle) and Environmental Transformation (Carbon footprint, Environmental audits).
Antonio Barona, CEO of the Vertech Group declared “This is an official recognition of the excellent work Vertech Group has carried out these years since its constitution in 2012”. “We are feeling proud to be rewarded as a R&D centre by the French Government which is working towards a tax system that is innovation and investment friendly” he added.
About the CIR (Crédit d’Impôt Recherche) : Research Tax Credit
France’s research tax credit covers 30% of all R&D expenses up to €100 million, and 5% above this threshold. Salaries for research staff are wholly integrated, plus 50% of R&D operating costs and 75% of investments in R&D operations.
All companies incurring R&D expenses are eligible, regardless of their size, business sector and nationality.
The research tax credit base covers not only all R&D spending (salaries, social security contributions, amortization and depreciation allowances, operating costs, subcontracting, patents and monitoring, etc.) but also innovation expenses incurred by SMEs, at a rate of 20% (up to €400,000 a year).
SMEs, innovative new companies (jeunes entreprises innovantes – JEIs), startups and ailing companies may ask for an immediate research tax credit rebate. Bpifrance, France’s public investment bank, offers a pre-financing solution covering 80% of expected eligible expenses (for companies based in France for more than three years, having previously received the
research tax credit).