Tax credits for R&D research ‘most welcome’

THE introduction of research and development (R&D) tax credits have been welcomed as a boost to foreign direct investment.

Ann Fitzgerald of PriceWaterhouseCoopers said the changes are certainly good news from the point of view of creating significant multi national business hubs in the Irish economy.

The exemption for disposal of substantial share holdings in trading subsidiaries from capital gains tax and expansion of double taxation relief on dividend income paid to parent companies buy Irish subsidiaries should also help to entice overseas firms to look more favourable on Ireland as a location for regional headquarters.