The Department of Finance has published its annual report on tax expenditures in Ireland. Tax expenditures include tax reliefs, credits, deductions and deferrals which reduce the quantum of tax paid, and the purpose of the report is to facilitate a better understanding of these expenditures in Ireland and their role within the Irish taxation system. Last year revenue forgone from all tax expenditures amounted to €8 billion, with the largest single cost, at just under €1.4 billion, arising from tax relief associated with the Research and Development tax credit.
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