Richard Boyd Barrett
Question:423. Deputy Richard Boyd Barrett asked the Minister for Finance the amount of tax that was forgone due to the knowledge box in the latest available figures. [41162/21]
View answerTuesday, 27 July 2021
Questions (423)
Written answers
I am advised by Revenue that the most recent data on the annual cost and the number of claimants of the Knowledge Development Box (KDB) are published on page 17 of Revenue’s paper on 2020 Corporation Tax payments and 2019 Corporation Tax returns. The paper provides the figures in respect of number of claimants and tax cost for the years 2016 to 2019, and is available at www.revenue.ie/en/corporate/documents/research/ct-analysis-2021.pdf.
In this regard, the Deputy may be aware that a claimant company has a period of up to 24 months to make a claim for KDB relief. It is anticipated that companies will make use of the 24 month time frame available. Therefore further claims in respect of the year ended 31 December 2019 may be made by September 2021.