Streamlining R&D tax incentives as an Approved Research Provider
Douglas CDMO is an Approved Research Provider with the New Zealand Inland Revenue Department (IRD), providing a streamlined pathway for New Zealand-based businesses to access the Research and Development Tax Incentive (RDTI) of 15% (net) tax credits for R&D.
By partnering with Douglas CDMO, companies can more efficiently apply for the tax credits for outsourced research and development activities.
Key benefits for partners
- Automatic eligibility for New Zealand businesses: New Zealand entities engaging Douglas CDMO for R&D services can now automatically include these costs in their RDTI claims, minimizing the documentation and pre-approval requirements typically associated with R&D tax credits, allowing partners to focus on scientific outcomes rather than paperwork.
- Global opportunities: While there is no automatic approval for overseas companies under the current IRD framework, Douglas CDMO has successfully navigated these requirements for some international customers. Douglas CDMO is prepared to assist prospective overseas partners in applying for this R&D recognition to ensure they can also maximize the financial efficiencies of their development programs.
Kent Durbin, Chief Financial Officer for Douglas says, “Becoming an IRD Approved Research Provider allows Douglas CDMO to offer our partners not just world-class technical expertise in complex and high-potency pharmaceutical, but also a more seamless financial path to bringing new therapies to life.”
For more information on how Douglas CDMO can support your next R&D project and assist with RDTI eligibility, please contact our customer service team.
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