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More companies granted tax deductions under the SkatteFUNN scheme in 2017

More than 7 600 projects received support under the SkatteFUNN tax deduction scheme in 2017, a ten per cent increase from the year before. There was growth in all counties and nearly all industries in Norway.

“The figures show that the SkatteFUNN scheme is very well-suited for the small and medium-sized enterprises, and is an important instrument for restructuring efforts in trade and industry,” states John-Arne Røttingen, Chief Executive of the Research Council. There has been a particularly marked increase in the number of projects in Southern Norway and in Western Norway.

Prime Minister Erna Solberg, and Minister of Trade and Industry Torbjørn Røe Isaksen at a presentation of a SkatteFUNN project from Laerdal Global Health in connection with the presentation of the 2017 year-end figures for the SkatteFUNN scheme. (Photo: Nærings- og fiskeridepartementet)

Shared funding initiative between companies and the public sector

The SkatteFUNN scheme provides a tax deduction or tax credit and grants for research and development in companies. Participating companies must cover the largest share of the project costs themselves.

Total costs for R&D projects in 2017 amounted to nearly NOK 31 billion. The overall budgetary parameters for tax deductions was just over NOK 5.5 billion, but the actual deductions tend to be somewhat less than what was originally budgeted.

“The SkatteFUNN scheme reduces risk and makes it possible for many companies to carry out research and development activity. We’ve further simplified the application form for 2018. It’s easy to apply for a deduction via the SkatteFUNN scheme,” Dr Røttingen adds.

See use of SkatteFUNN scheme in your county and your sector in the Norwegian version of this news item.

Written by:
Ingebjørg Aadland. Translation: Glenn Wells/Carol B. Eckmann.
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