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Irish Budget Announcement : Support for R&D increased.
October 2008
The recent Republic of Ireland budget (14 October, 2008) emphasised Ireland ’s commitment to Foreign Direct Investment (FDI) by increasing the tax credit for R & D activities.
The R & D credit, which can be offset against a Company’s Corporation Tax liability, has been increased from 20% to 25%. This measure will increase Ireland ’s competitiveness as a location for new internationally mobile research related FDI. It is also likely to encourage existing FDIs to add research functions to their operations in Ireland , or to increase their level of research activity.