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Renewable Energy R&D Tax Credits 18 September 2014

Renewable Energy R&D Tax Credits 18 September 2014. Brian Thornton Partner KPMG. Agenda. What is the R&D tax credit? Key technical requirements Eligible expenditure & finance. What is the R&D Tax Credit?. What is the R&D tax credit?. €25 credit / cash for every incremental €100 spent.

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Renewable Energy R&D Tax Credits 18 September 2014

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  1. Renewable EnergyR&D Tax Credits18 September 2014 • Brian Thornton • Partner • KPMG

  2. Agenda What is the R&D tax credit? Key technical requirements Eligible expenditure & finance

  3. What is the R&D Tax Credit?

  4. What is the R&D tax credit? €25 credit / cash for every incremental€100 spent

  5. What is the R&D tax credit? The credit incentivises companies to invest in Ireland and increase R&D spend in the Irish economy. The credit encourages companies to create new jobs in Ireland. The credit rewards companies being innovative. The R&D tax credit is key in Ireland’s economic growth policy.

  6. Key technical requirements

  7. Qualifying Activities • 5 Key Requirements • Basic research • Applied research • Experimental development Systematic, investigative or experimental activities Revenue approved field of science or technology Involve the resolution of scientific or technological uncertainty • Seek to achieve scientific or technological advancement

  8. Eligible expenditure and finance

  9. Eligible expenditure Pension VHI Share options

  10. Eligible expenditure • Other eligible expenditure? • Outsourced expenditure to third parties and universities to carry on R&D

  11. Claiming the R&D tax credit The R&D tax credit must be claimed within 12 months of the financial year end!

  12. Claim calculation Sample calculation:

  13. Take Home Points: Worthwhile credit - €25 rebate for every €100 spent Must be claimed within 1 year Significant documentation requirements – the price to be paid! Important to seek advice early

  14. www.kpmg.ie/r&d

  15. Thank You Brian Thornton 091 534634 brian.thornton@kpmg.ie

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