CHICAGO, IL, — Mexico continues to extend their research and development (R&D) grant programs to provide direct tax cash subsidies to manufacturers for qualified R&D projects.
In 2009, the Mexican government implemented new research and development (R&D) incentive programs that directly refund a percentage of expenses incurred by companies involved in R&D. The National Science and Technology Advancement Agency (CONACYT) administers the filing procedures for the incentive programs. The budget allocated MX$2 billion to fund R&D incentives in 2012; in 2011, the budget allocated MX$2.5 billion.
The filing deadline for the incentive is March 9, 2012. This deadline applies to all three programs that are in place to incentivize R&D investment in Mexico. Projects filed in 2012 that are a continuation, improvement, or a development of a project that received the incentive in 2009, 2010, or 2011 will receive priority.
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Qualifying expenses:
- Gross wages of staff directly involved in R&D
- Investment in equipment, software, pilot plants, and prototypes directly related to R&D
- Costs related to patents or copyrights
- Consultant and expert fees directly related to R&D
- General and operating expenses directly related to R&D
- Studies of technology analysis such as benchmarking
- Tuition reimbursement for master and doctorate degrees for personnel directly related to R&D
Baker Tilly has helped companies obtain significant R&D tax credits and incentives in foreign jurisdictions. If you would like to further discuss this incentive program and how it may impact your readers or members, please contact us .
About Baker Tilly
With staff totaling more than 1,400, Baker Tilly provides a wide range of accounting, tax, assurance, and consulting services. Ranked as the 16th largest* firm in the country, Baker Tilly serves clients from offices in Chicago, Detroit, Minneapolis, New York, Washington DC, and throughout Wisconsin.
The company is the exclusive Baker Tilly-branded firm in the US, which reflects its commitment to meet the ever-changing global needs of its clients.
Baker Tilly International is a worldwide network of 150 high quality, independent accounting and business advisory firms in 120 countries, with more than 25,000 professionals.
*According to the 2011 Accounting Today “Top 100 Firms.”
For more information, contact Holly Glackin, Industry Marketing Manager, at holly.glackin@bakertilly.com or 800 362 7301.
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