Dáil Éireann Debate, Thursday - 21 July 2016
153. Deputy Niall Collins asked the Minister for Finance if he has considered introducing a pro-forma research and development tax credit to remove administrative costs for small and medium-sized enterprises in 2017; the estimated cost to the Exchequer of this; and if he will make a statement on the matter. [24145/16]
View answerI am advised by Revenue that they are reviewing the operation of the R&D tax credit with a view to minimising the administrative burden on SMEs in particular while ensuring that the credit is granted to bona fide research and development. I understand that discussions have been held with industry members as well as the IDA and Enterprise Ireland in this respect.
The Department of Finance are committed to reviewing the R&D Tax Credit in line with Department guidelines, and implementing, where possible, recommendations to improve the effectiveness of the R&D Tax Credit. It is not possible to provide an estimated cost to exchequer of the proposed Tax Credit.
