In Budget 2015 I announced my intention to introduce the Knowledge Development Box (KDB) in Finance Bill 2015.
The purpose behind the introduction of the KDB in Ireland is to enhance the competitiveness of the Irish tax offering for intellectual property and thereby to ensure Ireland continues to be the location of choice for foreign direct investment.
A public consultation to gather views on how the KDB should operate was launched on 14 January and will remain open until 8 April. The consultation paper invites submissions from interested parties on their views of how the KDB should be designed to ensure that it meets the key objective of being the most competitive in class, within the agreed international parameters for fair tax competition in this area.
Officials from my Department have been actively engaging with industry and other related parties in relation to this consultation, and are participating in related discussions at EU and OECD level.
It is envisaged that the KDB will be introduced as planned in Finance Bill 2015.