Revenue has issued practical guidance notes on the Knowledge Development Box (KDB) relief which were prepared with input from Chartered Accountants Ireland (representing CCAB-I) and other parties via the Tax Administration Liaison Committee (TALC) forum.

The KDB, which became effective from 1 January 2016, allows profits arising from patents, copyrighted software or IP equivalent to a patentable invention to be taxed at a lower corporation tax rate of 6.25%. The guide details how the relief operates and how companies should make a claim, as well as providing practical examples for calculating the relief due.

Revenue eBrief No. 73/16 on here provides further details.