Tax Data

Dáil Éireann Debate, Wednesday - 26 July 2017

Wednesday, 26 July 2017

Questions (187)

Richard Boyd Barrett

Question:

187. Deputy Richard Boyd Barrett asked the Minister for Finance the amount of tax that was forgone due to the knowledge box according to the latest available figures. [36331/17]

Written answers

Minister for Finance

I am advised by Revenue that the Knowledge Development Box (“KDB”) was introduced with effect from 1 January 2016. The earliest Corporation Tax returns claiming the KDB would therefore be 2016 returns, the bulk of which are not due to be filed until later this year. When these returns have been filed and subsequently processed and analysed, Revenue will be in a position to provide this data. The estimated cost of the KDB at the time of Budget 2016 was €31 million on a first year basis and €50 million in a full year.