Mr. Niall Cody:

As I said, we carry out a risk based programme in respect of the research and development credit. In 2016 we carried out a series of interventions and restricted the credit by a figure of just under €13 million for the year. Last June we had a good discussion about our audit programme in the context of research and development. We carry out risk based audits in respect of the research and development credit because it is valuable, about which there is no question. In the context of the changes made over the period and small enterprises, the key is that there has to be expenditure on research and development. That is the first point. What we have been doing is trying to ensure that if a small enterprise is carrying out research and development, the appropriate documentation is submitted. In February we issued guidance specifically to assist small and medium enterprises engaged in research and development. We engaged with Enterprise Ireland on the record keeping needed in that regard to ensure that if companies were carrying out qualifying research and development, they were receiving the credit to which they were entitled.