Taxation and Innovation: How R&D Tax Credit Schemes Foster Innovation in the Private Sector

Oliver Falck, Anna Kerkhof and Christian Pfaffl

EconPol Forum, 2023, vol. 24, issue 04, 61-66

Abstract: Research and Development (R&D) is crucial to secure continued economic growth and prosperity Private sector investments in R&D are typically too low, which constitutes a market failure Governments use R&D tax credit schemes to compensate for this failure Input-based tax credit schemes and lenient corporate taxation are especially useful to stimulate private sector R&D activities

Date: 2023
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