Oireachtas Joint and Select Committees
Wednesday, 22 June 2022
Committee on Budgetary Oversight
Tax Expenditures Review: Discussion
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
I appreciate that. Another question on this area that we have been putting forward is in regard to the timeframe in which the credits can be drawn down. Ms Donaghy mentioned 33 months whereas we would argue that should be available in one instalment in 12 months. Again, there is a cost to this but it is a cashflow cost because these are being paid out anyway. As we are supporting businesses which are doing R&D, the idea is to have the credit drawn down in one year as opposed to over three years. Can Ms Donaghy explain to me the rationale as to why Revenue or the Department has not moved in that direction? Is there something I am not seeing here in terms of why we would not allow for the payable credits to be drawn down in 12 months as opposed to 33 months?
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