Knowledge Development Box

Dáil Éireann Debate, Thursday - 29 March 2018

Thursday, 29 March 2018

Ceisteanna (115)

Michael McGrath

Ceist:

115. Deputy Michael McGrath asked the Minister for Finance the number of companies availing of the knowledge development box; the cost of the programme in 2016; the number of SMEs that obtained the relief in 2016; the cost of these claims; the number of SMEs that were expected to claim the relief; the number of SMEs that claimed the relief; the cost of these claims; the number of SMEs that were expected to claim the relief; and if he will make a statement on the matter. [14829/18]

Freagraí scríofa

Minister for Finance

The Knowledge Development Box (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 (less than 10) with accounting periods ended on or before 31 December 2016 have claimed KDB relief. The tax cost of these claims to-date is in the region of €5 million. Due to taxpayer confidentiality, Revenue cannot comment on the size or nature of the claimant companies to date.

Given the large amount of documentation that is necessary, it is anticipated that more companies will make use of the 24 month time frame available. As such, more claims in respect of the year ended 31 December 2016 may be made by September 2018.