Ireland’s Department of Finance has launched a public consultation on a review of the 25% research and development (R&D) tax credit, which was introduced in the Finance Act 2004 to encourage companies to undertake high-value-add R&D activity in Ireland.
The central purpose of the R&D Tax Credit is to encourage companies to undertake high value-add R&D activity in Ireland. The principal benefit of the R&D Tax Credit is that it reduces the costs of undertaking R&D in Ireland by 25%. For every €4 spent on ‘qualifying’ R&D, a tax credit of €1 will be provided to the company.
The consultation period will run from 29 April 2019 to 07 June 2019.
