764 Deduction for revenue expenditure on scientific research

The section provides that a person carrying on a trade is entitled, in computing the profits or gains of the trade, to deduct amounts representing non-capital expenditure on scientific research, whether or not the scientific research is related to the person’s trade. In addition, a similar deduction in computing profits or gains of a person’s trade is also available in respect of sums paid whether capital or otherwise to a body carrying on scientific research that is approved for this purpose by the Minister for Finance, or to an Irish university, in order that the body or university may undertake scientific research. This latter relief is, with effect from 6 April 2001, only available under and within the provisions of section 848A.

Relevant Date: Finance Act 2021