Pádraig Mac Lochlainn (Sinn Fein) | Oireachtas source

I move amendment No. 3:

In page 11, line 23, after “applicant” to insert “and place of production”.

The Bill provides a legislative framework for SMEs involved in research and development activities in Ireland to avail of a reduced corporation tax rate of 6.25%. My party has serious reservations about efforts to further reduce the State's income from corporation tax. The logic behind my amendment concerns the issue of the overdevelopment of the greater Dublin region at the expense of the rest of the country. If the State is intent on reducing corporation tax, as provided for in this Bill, then we need a provision in the legislation that allows the Houses of the Oireachtas to know exactly what regions, towns, etc., benefit from the reduced rate. If this controversial tax reduction goes ahead, then we must at the very least ensure there is oversight in terms of regional parity and the benefits that accrue from the legislation.