Dáil Éireann Debate, Tuesday - 27 July 2021
349. Deputy Ged Nash asked the Minister for Finance the estimated savings that would be made by ending the refundable element of the research and development tax credit from 1 January 2022; and if he will make a statement on the matter. [39903/21]
Amharc ar fhreagraI am advised by Revenue that is not possible to accurately predict the yield from ending the payable element of the Research and Development (R&D) tax credit, as information in respect of the future payments of the credit, which is dependent on both the future profitability of claimant companies as well as their level of qualifying R&D activity, cannot be known in advance.
However, I am advised by Revenue that information in respect of the R&D tax credit is available at: https://www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/r-and-d-tax-credits.aspx. This includes the cost of payable tax credits for recent years. The most recent year for which returns information is available presently is 2019.
