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ARTICLE · 25 MAY 2016

Ireland's New Knowledge Development Box

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"Ireland...will become recognised as a place where good ideas can be transformed into excellent businesses and new jobs will be created as international investors and mobile entrepreneurs seek Ireland out as a location of choice. "

IrelandTax
Andrew Quinn
Andrew Quinn
William Fogarty
William Fogarty
Victor Timon
Victor Timon
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"Ireland...will become recognised as a place where good ideas can be transformed into excellent businesses and new jobs will be created as international investors and mobile entrepreneurs seek Ireland out as a location of choice. "

Minister Richard Bruton – National Policy Statement on Entrepreneurship in Ireland

The Irish Finance Act 2015 (the "Finance Act") introduced a 'knowledge development box' or "KDB", which brings in an effective reduced rate of corporation tax of 6.25% for qualifying income derived from 'qualifying expenditure' in the EU by an Irish tax resident company.

The KDB is described as the first OECD-compliant KDB in the world, which means that it is in line with international guidelines, the OECD Action 5 Report published on 5 October 2015 and specifically the OECD's 'Modified Nexus Approach'.

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