Tom Maguire: Firm advantage to changing rules around tax credit refunds for R&D
Budget 2023 presents an opportunity to change the way tax credits are applied to encourage more R&D to take place in Ireland. After all, the next Big Tech superstar could result from such encouragements
The Budget 2023 paper on corporation tax by the Tax Strategy Group came in at around 50 pages and covered many issues, one of which was the research and development credit regime.
The paper explained the credit’s primary objective is increasing business R&D in Ireland to contribute to higher innovation and productivity. The Tax Strategy Group (TSG) continues that the tax credit forms part of Ireland’s corporation tax offering aimed at attracting foreign direct investment ...