Rotterdam, November 3rd
The French ministry of research and innovation approves Viroclinics Biosciences as an intermediate vendor, according to Art. 244 quarter B of the French Fiscal Code. The French Tax Credit Incentive (Crédit d’Impôt Recherche or CIR) is a tax relief measure for companies focused on Research & Development activities. It is a volume based R&D tax for organizations based in France.
The incentive is also applicable to Research & Development studies or projects outsourced to approved third parties, such as Viroclinics Biosciences. The scope of expenditures1 that are eligible for tax deduction is based on:
– Depreciation of newly acquired fixed assets;
– Personnel expenditure for researchers;
– Research expenditure sub-contracted to public research bodies and private research organizations approved by the concerning ministry;
– and more depending on the specifications of the R&D project.
With the CIR recognition the tax credit rate for R&D is 30% of outlays up to € 100 million per year, and 5% over this limit. The CIR is deducted from taxes of the concerning organization. As a specialized Contract Research Organization, Viroclinics Biosciences is the ideal partner for projects and studies (sub) contracted by French-based companies. For further information, please feel free to contact your usual representative or alternatively send a request for information here.
– Viroclinics Biosciences’ approval certificate by the French government can be downloaded here.
– A summary of the eligible expenditures is published here.
– The full background of Article 244/ quarter B can be found here.
– To benefit from the CIR program a declaration 2069A has to be submitted. The concerning forms can be downloaded here.
[1Source: Official French Governmental Website for Legal Information, 2017, www.legifrance.gouv.fr ]
Please note that Viroclinics Biosciences B.V. is not liable for the actual assignment of tax credits. The allocation of CIR related incentives falls under the jurisdiction of the French government.