One of the key announcements for multinational companies made by
the Minister for Finance in the recent Irish budget statement was
the introduction of a 'knowledge development box'. The
Minister's intention is that the 'knowledge development
box' will be best in class and offer qualifying businesses a
low, competitive and sustainable tax rate. A public consultation
will be launched later this month seeking input on the design of
the 'knowledge development box' with a view to publishing
implementing legislation in the next finance bill.
However, the views submitted by participants during that
consultation process are not all the Minister will take into
account in the design of the 'knowledge development box'.
There have been some recent developments both at EU and OECD level
that will be relevant to its scope and operation. We consider those
developments and how the 'knowledge development box' might
operate.
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