HAMBURG, GERMANY: Jan 13, 2021 – BioAgilytix is thrilled to announce that our European lab in Hamburg, Germany is now CIR approved for 2020, 2021 and 2022, which allows us to provide fiscal support to French sponsors. The Research Tax Credit (CIR) is a tax incentive that is designed to encourage company research and development efforts by deducting expenses associated with R&D from a company’s taxes.
In an effort to provide an innovative and financially advantageous environment for industries to thrive, France boasts one of the most competitive tax exemptions for companies and startups that engage in research and development.
Our European headquarters, registered as BioAgilytix Europe GmbH, has been granted this research tax credit based on our current research and technological development expenditures. Even though our lab is located in Germany, it is important to point out that our CIR certification extends to include all industries in France as well.
With this CIR approval, French companies that work together with BioAgilytix Europe can deduct their eligible R&D expenses by 30% (up to 100 million Euro), and 5% beyond this amount, with limits applying to qualifying subcontractor expenses. This is a tremendous benefit for all French clients working together with us.
French businesses that spend money on research may be granted a tax credit, which can be offset against the corporate tax they owe. This makes BioAgilytix Europe an even more enticing option for French sponsors in need of a global CRO with our vast capabilities and experience.