Published on
Sherlock welcomes increase in R&D tax credit threshold
The Minister for Research and Innovation, Seán Sherlock TD, welcomed yesterday’s announcement by the Minister for Finance of an increase in the R&D tax credit threshold.
The measure announced by Minister Noonan sees a doubling of the amount of expenditure that qualifies for the R&D tax credit for SMEs from €100k to €200k.
Minister Sherlock said, “R&D tax credits are not only important to encourage SMEs to undertake R&D, they are also one of our selling points as a country when attracting foreign direct investment”.
The Minister added, “Over 40% of the IDA new client wins in 2012 are in companies who have links to SFI funded researchers. That’s over 4,200 new jobs announcements in 2012 so far, that are connected to Science Foundation Ireland. This clearly proves the link between research funding and job creation”.