Written answers
Thursday, 23 February 2017
Department of Finance
Tax Credits
Michael McGrath (Cork South Central, Fianna Fail)
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130. To ask the Minister for Finance the tax expenditure associated with research and development tax credits in each of the years 2012 to 2016 in tabular form; and if he will make a statement on the matter. [9328/17]
Michael Noonan (Limerick City, Fine Gael)
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I am informed by the Revenue Commissioners that the information in respect of the Exchequer cost of the Research and Development (R&D) tax credit for the years 2012 to 2014 is as follows:
Year | R&D Tax Credit €'m | Number of Claims |
---|---|---|
2012 | 281.9 | 1,543 |
2013 | 421.4 | 1,576 |
2014 | 553.3 | 1,570 |
The tax cost for 2015 has not yet been finalised as returns are currently being analysed, but provisional data indicate a cost of approximately €640m. This estimate will be updated at a later date. Figures for 2016 are not yet available as returns for that tax year are not due until later this year.
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