The Resource Looking for efficient tax incentives to stimulate research and development and economic growth

Looking for efficient tax incentives to stimulate research and development and economic growth

Label
Looking for efficient tax incentives to stimulate research and development and economic growth
Title
Looking for efficient tax incentives to stimulate research and development and economic growth
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Subject
Language
eng
Summary
This article is concerned with the role of research and development (R&D) in economic development. Encouraging R&D is an important matter. Governments may intervene to encourage R&D activities either directly or indirectly. Using tax incentives is an important means for fostering R&D activities indirectly. Developed (industrial) countries have significant experience in using forms of tax incentives. Nevertheless, using tax incentives to encourage R&D gives rise to a number of issues with regard to the definition of R&D activities and expenditures, designing the incentives as one of tax allowance, tax credit or tax deferral, and lastly, the consistency of the tax incentives with other provisions of tax legislation. Developing countries would typically grant generous tax incentives. Recently, developing countries have changed their tax policy towards lowering tax rates and repealing tax incentives. However, this type of tax policy is not adequate to foster R&D since its fails to address the positive externalities generated by R&D. Accordingly, the introduction of tax incentives to encourage R&D is an important matter that has a long-term impact on the economic development process
Citation source
In: New Zealand journal of taxation law and policy. - Wellington. - Vol. 15 (2009),
Language note
English
Label
Looking for efficient tax incentives to stimulate research and development and economic growth
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Publication
Label
Looking for efficient tax incentives to stimulate research and development and economic growth
Publication

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