With the aim to simplify the accounting of Research and Experimental Development (R&D) expenditures, the Lithuanian Government approved “The Recommended Description for Classification of Research and Experimental Development Stages” (6 June, 2012). The description can be applied for planning, financing, stimulating and evaluating R&D activities. The document sets out the R&D stages: from the idea as an outcome of the knowledge developed during the research activities to the creation of a new product, service or an art product and supply onto the market. The classification will help science, business and society representatives self-evaluate whether the carried out research activities are included in R&D activities, whether the declared activities are really based on research, and it will also help enterprises include the expenditure in R&D and facilitate a more active use of the tax incentives provided for in Art. 171 of the Law on Corporate Income Tax.
In case there are questions whether the enterprise activities can be included in R&D, there is a possibility to consult the experts. The expertise will be provided by the Agency of Science, Innovation and Technology (MITA).
For more information:
http://www3.lrs.lt/pls/inter3/dokpaieska.showdoc_l?p_id=426659&p_query=&p_tr2=2 (available in Lithuanian)
http://www.mita.lt/lt/nacionalines-programos/mtep-veiklu-vertinimas/ (available in Lithuanian)