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Tax Reliefs Costs

Dáil Éireann Debate, Wednesday - 19 December 2018

Wednesday, 19 December 2018

Ceisteanna (136, 137)

Michael McGrath

Ceist:

136. Deputy Michael McGrath asked the Minister for Finance the annual cost of the research and development tax credit for the previous five years including 2018; the number of companies that have availed of the scheme in each of these years by multinational companies and SME companies; and if he will make a statement on the matter. [53750/18]

Amharc ar fhreagra

Michael McGrath

Ceist:

137. 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 SME companies; and if he will make a statement on the matter. [53751/18]

Amharc ar fhreagra

Freagraí scríofa

I propose to take Questions Nos. 136 and 137 together.

I am advised by Revenue that the annual cost of the research and development tax credit for the most recent five years for which data are available (i.e. to 2016), and the number of companies that have availed of the scheme in each of these years, is as set out in the table below.

Year

Total Exchequer Cost (€m)

Number of Companies

2012

282

1,543

2013

421

1,576

2014

553

1,570

2015

708

1,535

2016

670

1,506

This information, together with a range of other available data in respect of the R&D tax credit, is published on the Revenue website at www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/r-and-d-tax-credits.aspx. This includes the available information in respect of a breakdown by size of the claimant companies.

Information in respect of 2017 will be published during 2019 when returns for that year have been processed and analysed.

In relation to the Knowledge Development Box (KDB), the relief is available in respect of 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) with accounting periods ended on or before 31 December 2016 have claimed the relief. The tax cost of these claims to-date is approximately €5 million. Due to taxpayer confidentiality, Revenue cannot comment further on the size or nature of the claimant companies. Information in respect of 2017 will be published during 2019 when returns for the year have been processed and analysed.

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