New incentives for robotic automation announced
The Ministry of Finance has announced a plan to introduce a new incentive that will encourage tax payers to invest in tools aiming at robotization and automation of production processes. The details of the incentive are not yet known, but its form is likely to be similar to currently binding R&D relief, meaning that it will be shaped as deductibility of qualified expenses multiplied by a predefined factor. It is assumed that qualified expenses will cover those incurred for robots, cobots, and relevant software, as well as VR tools.
The new incentive may be very attractive for companies that plan to invest in automation processes, and is intended to enter into force as early as 1 January 2021. Thus, if such expenses are planned in your group, it may also be worth including this opportunity on your “purchase agenda” to achieve additional tax savings.
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