A study of the cost of global R&D initiatives after tax and other cost incentives has placed Ireland among the world’s most competitive locations.

Ireland, with an effective tax rate of 1 per cent, was found to be the second most competitive of eight countries with attractive R&D regimes. Israel, with a tax rate of -6 per cent, was deemed the most competitive.

Mazars said changes introduced on R&D tax credits in recent budgets had increased the attractiveness of investing in the area for Irish and multinational companies.