Dáil Éireann Debate, Tuesday - 24 July 2018
276. Deputy Michael McGrath asked the Minister for Finance the annual cost of the knowledge development box in each year since its creation; the number of companies that have availed of the scheme in each of these years by multinational companies and SMEs; and if he will make a statement on the matter. [33922/18]
Amharc ar fhreagra332. Deputy Joan Burton asked the Minister for Finance the number of companies that have availed of the knowledge development box to date; the value of intellectual property subject to the KDB tax rate; his plans to extend the scheme; his plans to review the scheme; and if he will make a statement on the matter. [34864/18]
Amharc ar fhreagra367. Deputy Richard Boyd Barrett asked the Minister for Finance the amount of tax that was foregone due to the knowledge box in the latest available figures. [35030/18]
Amharc ar fhreagra383. Deputy Billy Kelleher asked the Minister for Finance further to Parliamentary Question No. 112 of 12 July 2018, the number of small companies by medium and micros sized firms with accounting periods ended on or before 31 December 2016 that have claimed KDB relief to date in tabular form. [35133/18]
Amharc ar fhreagraI propose to take Questions Nos. 276, 332, 367 and 383 together.
I am advised by Revenue that the Knowledge Development Box (KDB) only applies for accounting periods commencing on or after 1 January 2016. Given the supporting documentation required, the claimant company has a period of up to 24 months to make a claim for relief under the KDB. A small number of companies (less than 10) whose accounting periods ended on or before 31 December 2016 have submitted claims for their 2016 tax returns. Due to taxpayer confidentiality, Revenue cannot comment on the size or nature of the claimant companies to date. However, the tax cost of these claims to-date is in the region of €5 million.
It is anticipated that more companies will make a claim for relief within the 24 month time frame. As such, KDB claims in respect of the year ended 31 December 2016 may be claimed for the year ended 31 December 2017. Therefore, further claims in respect of the year ended 31 December 2016 may be made up to end September 2018.
