Michael Noonan (Limerick City, Fine Gael)

The purpose of the research and development tax credit scheme, which is open to companies of all sizes, is to encourage research and development here and thereby improve the economy and increase employment. A credit of 25% of incremental spend on research and development is available for this purpose. The scheme has been enhanced in most years since its introduction to improve its effectiveness. The latest amendment to the scheme, as provided for in this Bill, represents a further enhancement. It was sought by Deputy O'Dea, who suggested that it could be above or below the line.

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