Dáil Éireann Debate, Thursday - 1 February 2018
77. Deputy Niall Collins asked the Minister for Finance the number of firms by size (details supplied) that have applied for the knowledge development box scheme for SMEs since being established, in tabular form. [5246/18]
View answerThe purpose of the Knowledge Development Box (KDB) is to encourage companies to develop intellectual property and thereby engage in substantive R&D operations that have a positive impact on the Irish economy. The KDB applies for accounting periods commencing on or after 1 January 2016. The claimant company has a period of up to 24 months to make a claim for KDB relief.
I am informed by Revenue that a small number of companies (fewer than 10) with accounting periods ended on or before 31 December 2016 have claimed KDB relief. Due to taxpayer confidentiality, Revenue cannot comment on the size or nature of the claimant companies to date. However, the tax cost of these claims to date is less than €5 million. It is possible that this cost could change due to the 24 month period available to claim the relief.
