- Research, development and innovation are the key foundations for the development of any solution or product.
- The development of advanced technology allows the companies that develop it to apply for the Patent Box.
- The multi-sectoral nature of this type of incentive allows access to any company that implements advanced software in its projects and/or activities.
In the Logistop Webinar “More competitiveness in the logistics sector thanks to advanced software and the Patent Box”, attendees were shown the links between advanced technology and the application of the Patent Box, focusing mainly on the logistics sector.
David Puentes, Country Manager, MoneyOak España, and Néstor Castanedo, T&L Consulting Director, Eurotech, participated in the event, which was presented and moderated by Tomás de la Vega, Managing Director, Logistop.
How to maximise tax savings in the logistics sector
The digital transformation that the logistics sector has been undergoing in recent years has accelerated the use of disruptive technologies. These advanced solutions, apart from improving processes, minimising times, etc., allow companies that develop this type of technology to apply the Patent Box, which means the generation of significant savings.
In this sense, David Puentes highlights that the differential point of the IP-Box tax incentive (also called Patent Box) lies in its complementarity and compatibility with the rest of the tax incentives available, being a tax saving that is additional and complementary to those that companies may already be applying. Moreover, another noteworthy factor of this incentive is that it includes the new regulatory framework that refers not only to patents and utility models, but also to advanced software.
The advantages of this incentive include a 60% reduction (70% in the case of the Basque Country and Navarre) in the taxable base for Corporation Tax, it is compatible with Tax Deductions for R&D&I, bonuses for research personnel and other aid, it has no maximum application limit, it can be used regardless of the date of creation of the intangible asset and it can be applied in the assignment or transfer of certain intangible assets, among others.
Finally, David explains, through a series of success stories, the multi-sectoral nature of this type of incentive, which can be accessed by any company that implements and markets advanced software in its projects and/or activities.
“All companies that have advanced software (and/or patents, utility models) and are commercialising it should consider using the IP-Box incentive, one of the most powerful tax incentives with the greatest advantages”
David Puentes, Country Manager, MoneyOak España
Transforming railway safety with advanced technology
For his part, Néstor Castanedo detailed, through a real use case of application in the railway sector, how Eurotech was able to access the IP-Box tax incentive and how, through the development of its advanced solutions by implementing technologies such as Blockchain, Artificial Intelligence and Artificial Vision, it has been able to benefit from this incentive. The product that Eurotech has developed and that benefits from IP-Box incentives is SARA (Safety Railway), a tool that allows the comprehensive management of SGS (Safety Management System) processes, applying Blockchain technology.
To this end, research, development and innovation are the key foundations on which they are basing and developing their products and projects.
“Through the development of our advanced solutions by implementing technologies such as Blockchain, Artificial Intelligence and Machine Vision we have been able to benefit from the IP-Box incentive”
Néstor Castanedo, T&L Consulting Director, Eurotech
Logistop is the benchmark workspace for collective innovation through the realisation of projects hand in hand with our members. Transforming the entire supply chain into a more efficient and sustainable one. All this with the aim of articulating and carrying out innovation projects among the members, without excluding the possibility of collaborating with or receiving support from certain organisations outside Logistop.