Ireland: Proposed R&D tax credit rate and refund increases

Further details outlined in Finance (No. 2) Act 2023

Further details outlined in Finance (No. 2) Act 2023

The Minister of Finance announced two proposed enhancements to the research and development (R&D) tax credit as part of Budget 2024, with further details now outlined in Finance (No. 2) Act 2023 (read TaxNewsFlash):

  • Increase in R&D tax credit rate from 25% to 30%
  • Doubling of amount of R&D tax credit available to be refunded as a first-year R&D tax credit installment (from €25,000 to €50,000)

Read an April 2024 report prepared by the KPMG member firm in Ireland



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