Mr. Niall Cody:

The figures for the companies that appeared in the Comptroller and Auditor General's report predate the whole of the first year of the knowledge development box. Companies utilising this rate is in the just recently-filed returns. There is a very small number, which I believe we have given in reply to parliamentary questions. The current cost of the knowledge development box for 2017 is in the region of €5 million. There is a very small number of claimants for this rate but they have two years in which to claim. It will be a while before we can be definitive on the 2017 process. Ultimately, the knowledge development box is a new scheme. It is heavily modified and is the first patent box that is fully in accordance with the OECD rules. There are significant conditions attached to it and it will be interesting see how it evolves over time. My colleagues may want to contribute comments from the policy perspective.