Introduction of Ireland's new Knowledge Development Box will help Ireland's Fin-tech Sector and ensure Ireland remain's at the forefront of Fin-Tech technical innovation.
Foreign direct investment (FDI) will continue to receive a favourable tax rate with the help of a now-approved OECD Knowledge Development Box (KDB) that will see the corporation tax rate for it set at 6.25pc. Announcing to the Dáil the key decisions made as part of Budget 2016, Minister for Finance Michael Noonan TD put particular emphasis on the importance of R&D, innovation and FDI to the Irish economy under what he described as our new economic model. Particularly interesting for Ireland from an FDI perspective was that companies looking to invest in Ireland that plan to undertake R&D here will be able to receive the rather favourable corporate tax rate of 6.25pc that falls under the remit of the KDB.
