Many companies fail to realise that their Research and
Development activities could qualify for valuable tax incentives,
explains
Edward Murphy, Partner and Head of Tax Services.
Ireland has a well established reputation as a friendly
environment for innovative businesses. Government strategy, set out
in Innovation 2020, is to nurture excellent research in
strategically important areas that benefit the economy and society.
A key ambition is to increase investment in research and
development and, to this end, Government works with, and funds,
various programmes through agencies such as Enterprise Ireland,
Science Foundation Ireland, IDA Ireland, InterTrade Ireland and the
Higher Education Authority. In addition, research and development
tax incentives are available to help develop business and attract
high quality jobs. Two of the most important of these incentives
are the Research & Development Tax Credit regime and the
Knowledge Development Box.
