• Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 5/31/2013

Ireland - R&D tax credit for financial services 

May 31: To encourage companies in all sectors to innovate, the Irish government provides an incentive in the form of the research and development (R&D) tax credit to all companies undertaking qualifying R&D, regardless of the industry in which they operate (provided they meet certain conditions).

The R&D regime enables companies to claim a tax credit of up to 25% of incremental qualifying expenditure on an R&D project (or €25 for every €100 spent).

The R&D credit can either be offset against corporation tax or, in instances when the company is in a loss-making position, can be received as a cash payment from Irish Revenue in three installments (subject to certain conditions).

Read a May 2013 report prepared by the KPMG member firm in Ireland: Research and development (R&D) tax credits for financial services

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