TEK and Business School Graduates: RDI tax incentive crucial for economic growth has been approved

News article

The newly approved RDI tax incentive for companies supports the increase of private funding.

Crucial for the long-term conditions for growth, the permanent new RDI tax incentive for companies has been approved in parliament. The tax deduction took effect on 1 January 2023. It is based on a legislative proposal by 142 members of parliament, which in turn is largely based on a government proposal. The legislative proposal was submitted by Matias Mäkynen, Chair of the RDI Working Group and Member of Parliament for the Social Democratic Party.  

Finland needs to improve its economic carrying capacity in order to deliver on its welfare promises. Throughout Finland’s independence, its long-term economic growth has relied heavily on productivity growth. A substantial part of this is based on new technologies and ideas created as a result of investments in research, development and innovation. More sustainable economic policy also enables socially and ecologically sustainable solutions.

Together we can work miracles.
- Mikko Särelä

“Together we can work miracles. The tax incentive will be particularly helpful in launching and boosting RDI activities in SMEs. Over time, it will increase Finland’s productivity, growth and the number of jobs in the private sector,” says Specialist Mikko Särelä from the Academic Engineers and Architects in Finland TEK.

Finland is committed to increasing the share of RDI investments to four per cent of its gross domestic product by 2030. The Parliamentary RDI Working Group paved the way for taking the first steps towards this goal. Earlier this week, an act on RDI funding was approved to create conditions for increasing public RDI spending. The newly approved RDI tax incentive will support the increase of private investments.

“The long-term economic growth of Finland needs a boost to put us on a better growth trajectory. The RDI tax incentive for companies is the perfect gift for all Finns, because it improves Finland’s future wellbeing. A big thank you to the parliament for this!” says Ted Apter, Special Advisor in Industrial Policy at the Finnish Business School Graduates.

The RDI efforts of companies play a crucial role in achieving the goal set for 2030. Ted Apter believes in maintaining an active dialogue with different stakeholders on how we can continue to build a consistent, long-term business environment that provides incentives for RDI investments in Finland.

We thank the parliament for approving the RDI tax incentive in these difficult times, as it is essential for the future of Finland.

More information:

Mikko Särelä, Expert, Industrial and Innovation Policy / Academic Engineers and Architects in Finland TEK
+358 44 5264 556, 

Ted Apter, Special Advisor, Industrial Policy / Finnish Business School Graduates
+358 400 602 439,