ASX Listed, Sydney based company Immutep Ltd (ASX:IMM) has recently announced on 23 September 2022 that it has received a €1,804,341 (around A$2,693,000) payment in cash from the French Government under its Crédit d’Impôt Recherche scheme (CIR). A similar magnitude payment was received in the previous years.
The payment relates to activity the company is conducting in Paris to develop its novel Immunotherapy treatments.
Immutep Ltd also registers activities under the Australian R&D Tax Incentive.
Whilst there is likely to be some clinical and logistical reasons behind Immutep Ltd’s decision to conduct Activity in France and access credits under their R&D Tax System, this is a direct example that Australian capital is mobile, and other countries also offer R&D Tax Incentives.