Tax Incentives / All

KPMG responded on 30 January 2018 to the public consultation on recommendations set out in the Coffey Review of Ireland’s Corporation Tax Code.

Our IP specialists advise on the incentives and tax reliefs available for Irish business investing in intellectual property and intangible assets.

In this article, we take stock of the recommendations in the government commissioned report which reviewed Ireland’s corporation tax code,

At a time when businesses face rapid change and disruption, nurturing innovation has never been more important.

The R&D tax credit is one of Ireland’s most important tax incentives. The cost to the Irish exchequer is significant (€553m in 2014, with 1,570 companies filing claims). The cost has increased by a factor of 2.5 over the past five years.

On Budget Day 2017, the Department of Finance published a report[1] which included an economic evaluation of Ireland’s R&D tax credit.

In Budget 2016, The Minister for Finance announced the introduction of the Knowledge Development Box (KDB).

At a time when businesses face rapid change and disruption, nurturing innovation has never been more important.

"The wait is over! Since Minister Noonan announced in Budget 2015 that Ireland would introduce a “best-in-class” Knowledge Development Box (“KDB”), there has been a lot of speculation about ‘how low would he go’", says Damien Flanagan of KPMG's R&D Incentives Practice.