Public Consultation on the Research & Development Tax Credit and the Knowledge Development Box - April 2022
Published on
Open for submissions from
Submissions closed
Last updated on
Published on
Open for submissions from
Submissions closed
Last updated on
Consultation is closed
Public Consultation on the Research & Development Tax Credit and the Knowledge Development Box - April 2022
The Department of Finance invites submissions from the public in relation to the following Corporation Tax measures:
The Research and Development (R&D) tax credit was introduced in Finance Act 2004. The central purpose of the R&D tax credit is to encourage companies to undertake high-value-added R&D activity in Ireland, thereby supporting jobs and investment here. It supports companies in investing their own resources in R&D activities, thereby stimulating more activity than government resources could support through direct expenditure measures alone.
The Knowledge Development Box (KDB) is an OECD-compliant intellectual property (IP) regime, which provides for relief from Corporation Tax on income arising from qualifying assets such as computer programs and inventions protected by a qualifying patent. The objective of the KDB is to encourage companies to develop IP in Ireland and thereby engage in substantive operations that have a high ‘value-add’ for the Irish economy, both in the FDI and indigenous sectors.
The purpose of this public consultation is to consider the current challenges facing firms who are active in the R&D and IP space, as well as the implications of recent domestic and international tax reforms for these two reliefs. All input will be considered in the context of this year’s Budget and Finance Bill.
In responding to this consultation you are invited to:
Your views are important as they may help to influence future policy development in these areas.
The consultation period will run from Thursday 14 April to Monday 30 May 2022 . Any submissions received after this date may not be considered.
How to Respond
The preferred means of response is by email to: ctreview@finance.gov.ie
E-mail submissions will receive an acknowledgement of receipt within 3 working days.
Alternatively, you may respond by post to:
R&D Tax Credit and KDB – Public Consultation
Tax Division,
Department of Finance,
Government Buildings,
Upper Merrion Street,
Dublin 2
D02 R583
Please include contact details if you are responding by post. When responding, please indicate whether you are contributing to the consultation process as a professional adviser, representative body, business representative, member of the public, or in any other capacity.
Freedom of Information
Responses to this consultation are subject to the provisions of the Freedom of Information Acts. Parties should also note that responses to the consultation may be published on this website (www.gov.ie ).