As of 1 October, SMEs active in India can benefit from a new subsidy scheme. The Knowledge Voucher scheme supports SMEs that need advice and guidance from an external expert in international legal and tax matters, such as an international lawyer, tax expert or tax consultant. The subsidy is intended to support the internationalisation of SMEs.
Advice and guidance may include the following activities:
1. Review of existing contracts or drafting of new contracts, use of general terms and conditions in export transactions;
2. Registration of trade mark;
3. Advice on tax rates abroad, double taxation;
4. Setting up a foreign entity;
5. Other legal or fiscal knowledge focused on sustainable internationalisation.
The Minister will only issue one voucher per SME. The voucher entitles to a reimbursement of 50% of the costs, up to a maximum of €2,500 exclusive of VAT, the equivalent of approximately 40 consultancy hours.
Interested? IndiaConnected will gladly help you apply for the voucher.