Dáil Éireann Debate, Wednesday - 15 September 2021
278. Deputy Rose Conway-Walsh asked the Minister for Finance the amount of cash repayments made on research and development tax credits in circumstances in which the company involved did not have sufficient tax liability for each year since 2015; the amount scheduled to be paid out in 2021, 2022 and 2023 under ongoing repayment instalments; and if he will make a statement on the matter. [43443/21]
View answerIt is assumed the Deputy is referring to payable tax credits in respect of research and development (R&D) expenditure.
I am informed by Revenue that the available information in respect of payable tax credits is published in Revenue’s statistics on R&D (see page 4), which is available at www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/r-and-d-tax-credits.aspx.
The information provided covers all years since the commencement of the payable tax credit up to 2019, the latest year for which tax returns are available.
The amount of payable credit available to a company is calculated after first offsetting any available credit against corporation tax liabilities in a given year. Therefore forecasts are not available for the amount of payable credits for the years 2021 to 2023 as these will depend on the profitability of the companies concerned, in addition to being contingent on the level of qualifying R&D activity carried out by claimant companies.
