Dáil Éireann Debate, Thursday - 18 October 2018
196. Deputy Bernard J. Durkan asked the Minister for Business, Enterprise and Innovation the extent to which she remains satisfied that Irish interests in the manufacturing and services sectors are adequately safeguarded through the mechanism of the knowledge development box; and if she will make a statement on the matter. [43050/18]
Amharc ar fhreagraThe Knowledge Development Box (KDB), introduced in Budget 2016, forms part of Ireland’s competitive offering and continues to support Irish owned companies to innovate and to compete effectively on international markets. The KDB provides an effective 6.25% rate of corporation tax which is internationally competitive. The KDB complements the existing suite of initiatives available to companies that undertake R&D activities in Ireland across the lifecycle of research and development – providing a competitive proposition for continued business investment.
The continuing imperative to establish Ireland as the best place in which to succeed in business is reinforced in our national Enterprise and Innovation strategies - strategies based on export-led growth, underpinned by innovation and talent - strategies that aim to embed resilience, to deliver sustainable employment opportunities and a higher standard of living for all.
As a key part of Ireland's competitive offering as a location of choice from which to do business, the KDB has helped secure investment since its introduction in 2016.
With regards to indigenous companies, it is likely that the new certification scheme introduced last year will make the scheme more accessible for those companies into the future. The Knowledge Development Box (KDB) (Certification of Inventions) Act 2017 introduced a new certification scheme to allow smaller companies to avail of the KDB without the need to apply for a patent.
The KDB will continue to form part of Ireland's proposition and stimulate further investment in R&D activities by indigenous enterprises - ultimately delivering jobs and economic substance in Ireland.
