Tax credit for SMEs' export prospecting outside the European Economic Area

Article 23 of the 2005 Finance Act creates Article 244 quater H of the General Tax Code. SMEs (fewer than 250 employees, turnover below €50m or balance sheet below €43m) that hire an export development employee or an international business volunteer receive a tax credit of 50% of prospecting spending outside the EEA in the following 24 months: travel, market research, trade fairs, promotion. The credit is capped at €40,000 over that period (€80,000 for some associations and business groupings) and can be claimed only once.