The Research & Development Tax Credit is a generous incentive aimed at promoting expenditure on R&D activities by Irish resident companies and branches of foreign companies. A credit is available for 25% of qualifying expenditure carried out in a period. The credit is in addition to the usual corporation tax deductions and capital allowances claims, such that the total tax saving is potentially 37.5%.
The Knowledge Development Box is a tax relief on income earned from qualifying assets, often being assets derived from R&D activities. The relief entitles a company to reduce the rate of Corporation Tax payable on qualifying profits by up to 50%. In some cases, the Corporation Tax rate can be reduced to as low as 6.25%.
Our brochure summarises the tax incentives, enabling companies to establish whether your business might be entitled to benefit.
For more information click here to Download our Brochure [pdf].