Written answers

Thursday, 15 May 2014

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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71. To ask the Minister for Finance if he will provide in tabular form the annual tax expenditure associated with research and development tax credits in each year from 2010 to 2013; and if he will make a statement on the matter. [22050/14]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I am informed by the Revenue Commissioners that the annual tax expenditure associated with research and development tax credits in each year from 2010 to 2012, the latest year available, is as set out in the following table.

YearR&D Credit Cost
€m
2010224
2011261
2012282
Data for the tax year 2013 are not yet available as the bulk of tax returns for 2013 are not due until later this year. The Deputy may wish to note that the R&D Tax Credit was comprehensively reviewed in 2013, and the results can be viewed on the Department of Finance website.

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