Subsidised digital firms ‘being paid’ to set up here
The knowledge development box, various R&D reliefs, and the low corporate tax rate means that firms are effectively paid to set up here
Digital businesses setting up in Ireland can pay an effective “subsidised” tax rate of less than minus 10 per cent when incentives are combined, according to consultancy firm PwC.
The combination of the state’s knowledge development box, which permits a reduced rate of tax on revenues arising from research and development activity, various R&D reliefs, and the low corporate tax rate, means that firms are effectively paid to set up here.
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