There is a very strong connection between research and development (R&D) and economic development, or economic competitiveness. This manuscript addresses the importance of national policies and their programs, which serve as incentives for organizations to promote research and development (R&D), recognized as fundamental drivers of a country’s economic growth and development. Specifically, it discusses fiscal incentive system for business R&D (SIFIDE), which in Portuguese stands for “Sistema de Incentivos Fiscais à Investigação e Desenvolvimento Empresarial” (Fiscal Incentive System for Business R&D). This program aims to enhance the competitiveness of companies by supporting their R&D efforts through corporate income tax (IRC) deductions on expenses related to these activities. The methodology employed in the preparation of this manuscript focuses on the collection of data from publications related to the SIFIDE program, as well as the analysis of concrete benefits derived from it, based on OECD data. Information from official publications by the ANI (National Innovation Agency, Portugal) is presented to substantiate the results already achieved and the potential future outcomes driven by the program. The results show that Portuguese companies are making significant use of this incentive program. There is a noticeable relationship between the size of companies, their age, and the benefits gained through participation in the program. Geographically, it is observed that districts with higher production levels make greater use of SIFIDE. The same applies to the most productive and technologically advanced industries, which are more receptive to using this instrument. However, the relationship between investment and returns/benefits requires further, more in-depth analysis in the future.