ISME calls for R&D threshold removal
Business organization ISME has expressed disappointed that yesterday’s Finance Bill did not remove the €50,000 threshold on research and development.
This would have allowed small business to benefit from the tax credit available.
ISME claim that Investment in R&D is essential to the future success of the indigenous sector in enabling domestic companies to move up the value chain in order to compete with larger companies.
Chief Executive Mark Fielding said today: "The initiative in its current format is geared towards big business and multinationals.
"It completely ignores the specific requirements of SMEs. It does little to encourage or reward innovation at the individual small firm level," Fielding added.
The Association has called on the Finance Minister Charlie McCreevy to remove the threshold and encourage increased SME investment in R&D.
