Global Investment and Innovation Incentives (Gi3)
An elaborate system of financial incentives to fuel companies’ R&D, innovation, sustainability and energy transition as well as other business investments exists in many countries and industry sectors. These government incentives are available for both domestic investments as well as growth opportunities abroad.
Identifying, understanding and prioritising the right incentives for an organisation can be a time consuming and challenging undertaking — however, one that can also generate significant benefits. Deloitte’s network provides access to Global Investment & Innovation Incentives (Gi³) practitioners (more than 1,000 talented individuals) who are ready to provide support around the world. Deloitte advises companies in their pursuit of the right incentives by developing and executing an effective incentives strategy for their specific needs. The Gi³ team in Belgium ensures specialist knowledge on R&D and energy-related Tax Incentives, R&D/Innovation and energy-related Grants and IP in a given sector.
- R&D Tax Incentives
- Funding and grants
- Energy-related Incentives supporting Energy Transition
- Intellectual Property
- R&D process management
A general introduction to Gi3
R&D Tax Incentives, Patent Income Deduction & Innovation Income Deduction
Identifying eligible R&D activities and preparing robust supporting documentation is often unfamiliar territory for businesses, who may lack experiences and resources to apply R&D Withholding Tax or R&D Tax Credit. We combine deep tax technical expertise with highly experienced scientists and engineers to analyse R&D activities eligible for tax incentives, and prepare robust supporting documentation for the different applicable incentives. Deloitte can provide advisory services throughout the entire process, from initial feasibility reviews, through document preparation, towards submission. We make use of technology-based solutions to create a smooth process with increased transparency and facilitate compliance with regulatory changes.
R&D claims and Government Incentive applications are often under intense regulatory scrutiny. Deloitte provides advisory assistance in the resolution of any such audits, as well as support related to claims and information requests or objections from relevant government bodies. Our teams include former officials from various regulatory agencies, possessing an in depth understanding of the regulatory processes.
With a combination of IP and tax knowledge, Deloitte's Gi³ team is second to none in advising companies in Belgium and abroad in analysing and applying the most appropriate IP tax regime for their business including the Innovation Income Deduction (IID), Patent Income Deduction (PID) under the grandfathering condition or a combination of both.
Funding and grants
Local, regional, federal and EU governments provide funding and other incentives. The European Union deploys several funding programs in which Belgian organisations can participate. Among them are Horizon 2020, which contributes EUR 80 billion of funding for R&D and innovation activities, and LIFE, which contributes EUR 3.4 billion for health, wellness and environmental related projects; both funds are disseminated over 7 years (2014-2020). At European, local and national level, companies can benefit from funding opportunities provided by multiple funding channels for different types of R&D activities and investments. The funding channels include VLAIO (Flanders), Innoviris (Brussels) and Portail de la Recherche et des Technologies en Wallonie (Wallonia).
Making the most of available opportunities requires time and effort. Deloitte’s Gi3 team is experienced in preparing and negotiating such applications, from the initial scoping, through proposal drafting, towards document submission.
Energy-related Incentives supporting Energy Transition
Sustainable development is more than ever at the top of international, European and national priorities. The European Union has set a long-term energy strategy, which includes targets for 2020 and 2030 in order to ensure energy transition readiness and a gradual move towards a low-carbon economy. Subsequently, the energy-related fiscal and financial landscape is evolving in the Member States through tax incentives and funding opportunities aimed at unlocking companies’ potential to be ready for the energy transition. It includes incentives for investments in responsible production and consumption, clean energy production such as cogeneration and sustainable manufacturing.
Deloitte Gi³ team supports companies to identify incentives that fit with their sustainability strategy. Together with R&D Incentives we aim to propose a fully integrated approach supporting companies’ projects throughout the entire process.
From IP Strategy, to implementation and full IP lifecycle management, our team is able and prepared to act as trusted advisor in relation to the full intellectual property spectrum.
Our patent consultants assist companies in identifying and applying the IP strategy for their product portfolios, by using a phased approach consisting of one or more patentability studies, patent application drafting, filing prosecution and post prosecution services.
The combination of IP skills with tax technical knowledge allows our Gi³ team to advise companies on their IP and tax strategies.
R&D process management
A detailed review of information and processes dispersed across an organisation can help identifying untapped potential for grants and incentives, reduce risks and streamline processes.
Companies can remain confident that Deloitte's knowledge and experience will ensure that the incentives and risks, which can affect cost of business, have been appropriately considered and analysed.
Using its holistic approach, our team advises companies in enhancing their complete R&D process management.