What is the Definition of JTC's R&D Expenditure? (JTC's Lease Renewal for Industrial Land)
COST ELEMENTS CONSIDERED AS R&D EXPENDITURE
- Manpower cost – 100% for FULL-TIME R&D staff and 50% for staff in product design/development and process re-engineering.
- Costs of materials, specialised software and services consumed in R&D activities (must be directly related to project).
- Amortisation of Technology and Intellectual Property Rights Licensing/ Acquisition (only applies for licensing and acquisition with parties of no direct relationship, i.e. not parent or subsidiary/associate company).
- Training – 50% on training and course fees. (Training must be directly related to R&D and product design/development and process re-engineering.)
- Costs in engaging consultancy services and/ or conducting feasibility studies/ market research. These services/ researches must be directly related to R&D activities.
- Sub-contracting/outsourcing of R&D activities.
- Test marketing – the cost of producing prototypes for alpha and beta testing
- Certification, testing and type approvals.
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