TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Forfas Report on Services Strategy

Forfas has presented its report on a Services Strategy for Ireland to the Tánaiste and Minister for Enterprise, Trade and Employment. Included in the recommendations is one to expand the national research and development (“R&D”) Tax Credit scheme to include services R&D and innovation.

According to the report, this could be achieved by:

  • – Redefining R&D for the purpose of tax credits so that it encompasses services R&D; and
  • – Developing an R&D tax credits mechanism for services that is based on international good practice.

The Pre-Budget Submission (see earlier story) contains specific suggestions for amendments to the R&D tax credit.

The Forfas Report “Catching the Wave-A Services Strategy for Ireland” is available at http://www.forfas.ie/publications/forfas080912/forfas080912_services_strategy.pdf.