RTP has awarded a contract to Ernst & Young for consulting services in the area of Tax Incentive System for Research and Institutional Development (SIFIDE), which reads on the primary portal. The contract is worth 60 thousand euros.
SIFIDE’s main objective is to increase the competitiveness of companies and support their research and development efforts by deducting a percentage of related research and development expenditures from corporate income tax collection (IRC) – on the unreimbursed portion of lost funding by state or trusts European.
In Nascer do SOL, Paula Franco, president of the Association of Chartered Accountants, explains that this is “a tax advantage, and in essence it is a tax deduction. That is, a direct deduction from the tax payable on profits.” The Chairman adds that the deduction is made after the rates are calculated and that this is “better There are tax advantages.” «It is the result of the investments, the existence of the Sifide project as a result of that investment and that approval will result in a significant reduction in taxes through that investment. They are basically tax advantages to encourage companies to restructure and invest.”
When asked if it’s normal for companies to hire consultants for these programs, Paola Franco clearly says yes, because “it’s also about applications involving the IRS in order to ultimately get that tax advantage.” He adds that these companies are hired “especially when the projects are big because it’s an issue that brings up some litigation with the IRS, so no one wants to take a risk without having two opinions.”
But RTP is a public company and is funded by the state.
An official source from the RTP states that the public station has “in its activity a strong R&D component” and for this it decided to apply for a tax incentive system for institutional research and development, in connection with the investments made in 2021.
“This type of application requires specialized knowledge, so a prior consultation was launched to provide consulting services in the field of the institutional research and development tax incentive system,” the same source explains, adding that they were consulted through the platform of Vortal, the four largest consultants operating in Portugal, after they won at Ernst & Young, “the only one who made a bid”. He adds that “the investment in advisory services may reach a maximum of twenty thousand euros in 2022.”
If this request is approved, the RTP “will obtain tax incentives that will contribute to improving its economic and financial sustainability and will continue to invest in research and development, in order to enhance its competitiveness, including in the digital sphere.”
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