Revisiting the supply chain, becoming more agile, meeting new market demands, moving to Industry 5.0… how can we finance the transformation of the industry?
Like everywhere else in the world, Belgian industry is going through its 5th revolution to gain in agility, cost and productivity. But implementing Industry 5.0 is not the only challenge. The health crisis has made the need to increase productivity, reduce labor costs and reduce the carbon footprint even more urgent, while also adding new major challenges, such as rethinking the entire supply chain to make it more resilient in the face of the disruptions to which it is increasingly subject. To address these challenges, resources are available, but not always easily accessible.
Ayming’s experts can help you identify the financial resources available to your company to ensure its growth.
Undermined productivity and continued rising labor costs
Declining demand, supply chain disruption… The manufacturing industry has faced periods of unproductivity all over the world, and Belgium was obviously no exception. It is more important than ever to rethink production models, especially in terms of resilience, by multiplying the number of suppliers and building up more inventories. These new challenges come on top of those we have been facing for many years, such as ever-rising labor costs.
Nevertheless, there are financial means to counter them, which our experts in industrial taxation can provide you with access to:
- Measures to indirectly alleviate the tax on investments for the modernization of the means of production, labor costs related to industrial research, or the consequences of unproductive periods
- Measures to reduce labor costs for target groups, but also to encourage night and shift work
- Regional grants to support the transformation of companies (training, reorganization of workplaces, etc.)
Smart manufacturing, driving innovation and generating funding
The Belgian industrial sector has taken the turn of Industry 4.0, with the integration of artificial intelligence, virtual and augmented reality, the use of big data to optimize production flows and purchasing and supply logistics… Today we are on the verge of Industry 5.0, which will further deepen the interaction between humans and technology, introduce IIoT (Industrial Internet of Things) and bring more digitalization. These innovations will require large investments, both in capital investment and in human resources. Measures exist to alleviate the cost of the latter and reduce the burden associated with innovation revenues. Again, regional grants are available to support your digital transformation.
Our innovation finance experts can help you understand and apply the various incentives and grants that are appropriate for your business and context.
Sustainable development and reduction of ecological footprint: new sources of income
The new environmental challenges have led to new standards at European and national levels in recent years. In the industrial sector, this new situation affects both the manufacturing chain and the final product, making it necessary to intensify R&D efforts and investments in manufacturing processes (in particular to reduce their environmental footprint) or in the protection of intellectual property, for example through patents.
These expenditures can be optimized by incentive mechanisms, which our experts can help you set up:
- Tax incentives for R&D, such as the partial exemption from payment of withholding tax for researchers
- Deduction for innovation income
- Tax deductions for investments
- Regional subsidies for environmentally friendly investments
Manufacturing brochure in French Manufacturing brochure in Dutch
Download our manufacturing brochure and discover our case study that shows in detail how we helped our client save more than €500,000 through various optimizations of the tax base, social security contributions and property tax.
A holistic approach
Specialized by industry, Ayming’s experts are able to identify and generate the potential gains that will enable you to boost your operational competitiveness. Present in Belgium and in 15 other countries, they rely on the expertise of 1,400 experts in the group to propose you to improve your value chain.
Consult our offer of business performance support for Manufacturing
- Partial exemption from payment of the withholding tax on wages for researchers
- Increased tax exemption for investments in innovation and energy savings
- Tax exemption for innovation revenue (aka Innovation Box)
You can also benefit from our whitepapers, which give you an overview of the current state of innovation and R&D, both nationally and internationally.
- Belgian Innovation Barometer 2021 – Belgium’s finest specialists have spoken
- The International Innovation Barometer 2021
- Global R&D Tax Incentives: The Benchmark 2020
- The International Innovation Barometer 2020
- The Belgian R&D Financing Barometer 2019
- Global R&D Tax Incentives: The Benchmark 2019
Please contact us for more information or for a personal meeting in which our experts explain the possibilities of optimization for your organization.