Budget 2016 – Corporation Tax Reform :
The Minister for Finance announced these changes as part of Budget 2016
Knowledge Development Box
A reduced ( 6.25%) rate of corporation tax will apply to the profits arising to certain patents and copyrighted software which are the result of qualifying R&D carried out in Ireland.
Also a new 3 Year Relief for Start up Companies –
This measure provides relief from corporation tax on
trading income (and certain capital gains) of new start
– up companies in the first 3 years of trading. This relief is
being extended for new start – ups commencing to trade
over the next 3 years.
The cap on eligible expenditure under the relief is being
increased to €70 million, subject to EU State Aid