Research, Development & Innovation

The increase of the R&D tax credit from 25% to 30% in Budget 2024 was a key ask of AmCham's 2024 pre-budget submission. Ensuring the R&D tax credit remains attractive is essential in maintaining Ireland’s competitiveness as a foremost location for inward investment. 

Ireland’s spending on Research and Development (R&D) is significantly lower than the average across European Union countries. AmCham believes that this funding gap could place Ireland at a disadvantage in the race to attract new, high value, businesses into the country. 

AmCham recommends the expansion of the scope of qualifying fields for the R&D tax credit, to include AI, data analytics, digitalisation, emerging technologies in the field of advanced/digital manufacturing, and carbon neutrality to support the advancement of climate action.

AmCham also considers Ireland should implement measures to deliver an enhanced national research ecosystem, making Ireland the destination of choice in the EU for industry to place integral research functions and establishing Ireland as a centre for research excellence on the global stage.