Hundreds of millions could be called up by domestic companies for R&D this year

By: Trademagazin Date: 2022. 04. 26. 08:49

By properly using the tax incentives, domestic companies can save up to a third of their R&D costs, the National Office for Research, Development and Innovation and EY said at an online event. This year, Hungarian companies can apply for HUF 76 billion, many of which do not even know that they meet the requirements.

Since the turn of the millennium, the amount of public R&D expenditure has increased more than sixfold here. In 2021, the Hungarian Government will allocate a total of HUF 182 billion from domestic sources for R&D, of which HUF 76 billion will be available to the corporate sector through various tenders, programmes and incentives.

“Never before have there been as much financial resources to boost innovation in Hungary as the government currently provides to market participants. The time has come for companies that have been hesitant to start implementing innovations that are essential to their future growth.”

– stressed Dr. Zoltán Birkner, President of the National Office for Research, Development and Innovation.