The Deduction for the Commercialization of Innovations in Quebec (DCIQ) was introduced in 2020 to replace the deduction for innovative manufacturing companies.
This tax incentive is designed to support businesses in Quebec that are involved in the commercialization of innovative products, processes, or technologies. The program provides a deduction against taxable income for eligible companies, encouraging investment in innovation and enhancing the competitiveness of Quebec businesses.
Funding
The DCIQ is available for taxation years beginning after December 31, 2020 and allows for a reduced tax rate (from 12% to 2%) on the valuation of income from these protected assets.
Eligibility
The business must be located in Quebec and must be engaged in activities related to the commercialization of innovations, such as developing and bringing new technologies or products to market.
Application
The application process can be intricate, and meeting the eligibility requirements can be challenging. With our expertise, we can help your company navigate these complexities and leverage this deduction to enhance your innovation efforts and competitive position.
Management
We support our clients throughout the claim process, from the request for certificates to the delivery of tax forms.
How Long Does It Take To Receive Funding?
Yes, you can use an external consultant to assist with DCIQ application process. Working with Quebec consultant can also expedite the process and help you handle the more complex parts of the claim, ensuring compliance with Revenu Québec’s regulations.
Can I Use An External Consultant For Assistance?
Yes, you can use an external consultant to assist with DCIQ application process. Our consultants can provide valuable expertise, ensuring that your application is compliant with the rules and maximizing the available credits.
Can I Claim Both SR&ED Tax Credit and Quebec Patent Box?
Yes. It is possible to claim SR&ED tax credit even if you are receiving Quebec Patent Box funding. However, an analysis needs to be conducted to avoid any double-dipping risk and ensure compliance with both federal and Quebec regulations.
