During a recent event organized by the Spanish Bioindustry Association Asebio, Spain’s State Secretary for Finance presented details of the tax incentives introduced within the framework of the Entrepreneur Support Act, which is designed to promote research, development, and innovation in Spain.
The Finance Minister referred specifically to a regulatory change included in the Act providing for the reimbursement of unused tax deductions for research, development, and innovation expenditure, through a refund system unique to Spain. The new procedure will allow unused deductions that have not been claimed to be refunded in subsequent financial years.
