According to recent reports, the Economic Affairs and Trade Committee of Iceland's Parliament is proposing to provide increased reimbursement ratios for research and development (R&D) of 35% for SMEs and 25% for large companies for 2020 and 2021. In addition, it is proposed to provide as increased R&D expense cap of ISK 1.1 billion for 2021 and 2022, with companies allowed to include up to ISK 200 million in purchased R&D services. Further details will be published once available
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