Dáil Éireann Debate, Tuesday - 14 November 2017
130. Deputy Michael McGrath asked the Minister for Finance the value of intangible assets onshored here for each of the years 2012 to 2016 and to date in 2017; and if he will make a statement on the matter. [48137/17]
Amharc ar fhreagraIn relation to “onshoring” of intangible assets, as recorded in the National Accounts, I understand from the CSO that there are two channels by which this can occur. The first channel is through the import of Research and Development (RandD) related intellectual property (IP), and the second is through the relocation of companies and their associated balance sheets.
The following table shows the value of RandD related IP imports over the period 2012 to 2016 and for the first half of 2017. The table also contains total R&D imports, but this figure alone would overstate the extent of onshoring as it also includes RandD services carried out abroad on behalf of companies located in Ireland.
The second channel, the relocation of companies and their associated balance sheets, was significant in the onshoring that occurred in 2015. While data on the value of intangible assets onshored through this channel is more limited, the relocations in 2015 along with RandD related imports added approximately €300 billion to Ireland’s capital stock.
|
Year |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 H1 |
|
RandD related IP imports (€- millions) |
2081 |
234 |
1992 |
8266 |
35631 |
11211 |
|
RandD Services (€- millions) |
5925 |
5824 |
6712 |
10354 |
11514 |
6525 |
|
Total RandD Imports (€- millions) |
8006 |
6058 |
8704 |
18620 |
47145 |
17736 |
