The Knowledge Development Box (KDB) is a progressive new addition to Ireland’s corporation tax regime from 2016 onwards.
If a company is eligible to claim the KDB rate of tax, their corporation tax rate on trading profit can be reduced by 50%, from 12.5% to 6.25%.
Below we have sought to summarise some of the key points you need to be aware of:
This is a new corporation tax relief and while the process for claiming it is somewhat complex, the annual tax savings could be significant.
Please contact us to commence the process of reviewing your company’s eligibility for the KDB rate of tax on its trading activities and to determine what the annual tax benefit may be.
Please note: The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation.
Warren & Partners are a boutique Irish tax and business advisory firm based in Ballsbridge, Dublin. Our experienced-team of tax advisors will create unique tax solutions for your specific business needs.