Knowledge Development Box

Dáil Éireann Debate, Tuesday - 14 November 2017

Tuesday, 14 November 2017

Ceisteanna (126, 127)

Róisín Shortall

Ceist:

126. Deputy Róisín Shortall asked the Minister for Finance the number of firms by size that have availed of the knowledge development box; and if he will make a statement on the matter. [48031/17]

Róisín Shortall

Ceist:

127. Deputy Róisín Shortall asked the Minister for Finance the estimated value of the intellectual properties qualifying for the knowledge development box deductions; and if he will make a statement on the matter. [48032/17]

Freagraí scríofa

Minister for Finance

I propose to take Questions Nos. 126 and 127 together.

I am advised by Revenue that the Knowledge Development Box (“KDB”) was introduced with effect from 1 January 2016. Information from Corporation Tax returns for 2016, the bulk of which have only recently been filed, will be processed, parsed and analysed in the coming months. Further information on the KDB will then be available in late 2017 or early 2018. However, I am further advised by Revenue that, based on preliminary analysis, the number of claims received on returns to date is small and it is likely that the cost to the Exchequer will be significantly below the €50 million estimated in Budget 2016.