April 2017

IRELAND OFFERS GREAT R&D TAX RELIEF

The Knowledge Development Box in Ireland – 6.25% Corporate Tax Rate.    

The Knowledge Development Box (KDB) in Ireland provides for a 6.25% tax rate on profits derived from patented or other protected inventions and certain copyright software.

In order to qualify for the KDB, an Irish resident company has to be involved in the qualifying research and development activities such as paying the salaries of individuals involved, incurring certain qualifying overheads and other items consumed in the R&D process. Purchasing IP does not count. This qualifying research and development can be outsourced to non related third parties.

The relief is calculated as a deduction from qualifying profits. The KDB has been well received by the multinational companies based in Ireland in the Pharmaceuticals, Computer and Medical Instrument industries.

Copyrighted software, patented or protected inventions are all qualifying activities.  If you have qualifying assets of less than €7.5m you might qualify as a 'small' business and so inventions can be certified by the Controller of Patents to be 'novel, non obvious and useful'.

The KDB regime is also intended to enhance Ireland's offering as an IP location alongside the 12.5 per cent corporate tax rate, the R&D tax credit and the IP amortization regime – all in all making Ireland a very attractive investment destination. 

CONTACT DETAILS

For more information about how you or your client might take advantage of this opportunity see the contact details of the AGN Firm below:


Firm: Duignan Carthy O’Neill
Contact Person: Liam McQuaid
Phone: (353) 1 6682404
EMail: liammcquaid@dcon.ie
Website: www.dcon.ie

AGN International Ltd is a company limited by guarantee registered in England & Wales, number 3132548, registered office at 24 Greville Street, London EC1N 8SS, United Kingdom.

AGN International Ltd (and its regional affiliates; together "AGN") is a not-for-profit worldwide membership association of separate and independent accounting and advisory businesses. AGN does not provide services to the clients of its members, which are provided by Members alone. AGN and its Members are not in partnership together, they are neither agents of nor obligate one another, and they are not responsible or liable for each other's services, actions or inactions.

This communication is generic in nature, for general information only and does not constitute professional advice. It should not be relied upon in arriving at any decision, and no responsibility is accepted. Salient facts should be verified and professional advice should be taken before taking or refraining from any course of action.

Copyright © 2017 AGN International Ltd, All rights reserved. You are receiving this because you are a member of AGN International Ltd



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AGN International Ltd is a company limited by guarantee registered in England & Wales, number 3132548, registered office 6 Hays Lane, London Bridge, London SE1 2HB, United Kingdom.
AGN International Ltd (and its regional affiliates; together "AGN") is a not-for-profit worldwide membership association of separate and independent accounting and advisory businesses. AGN does not provide services to the clients of its members, which are provided by Members alone. AGN and its Members are not in partnership together, they are neither agents of nor obligate one another, and they are not responsible or liable for each other's services, actions or inactions.

Copyright © 2020 AGN International Ltd, All rights reserved. You are receiving this because you are a member of AGN International Ltd




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