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Ireland has the lowest tax rate on research and development among all 38 OECD nations

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Finance Minister Michael McGrath said tax competition is an important policy tool for smaller countries. Photo: Getty Images

Ireland has one of the world’s lowest tax rates on firms’ research and development spending, a report has found, but France offers more generous R&D incentives overall.

The report by the Paris-based Organisation for Economic Cooperation and Development (OECD) reveals that Ireland’s average effective tax rate on R&D last year was negative, at -3.15pc, lowering the tax rate on R&D spending by more than 14 percentage points.

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