top of page
Search
    • Jul 24, 2020
    • 1 min read

ROI July Stimulus Package - Headline points

The Govt has announced a €7bn package of new measures to boost the Irish economy:


• TWSS will be succeeded by EWSS and will run until April 2021 [Turnover 70% test] • VAT to decrease from 23% to 21% for 6 months from 1 Sept 2020 • Waiver of commercial rates until 30 Sept 2020 • A stay & spend tax credit worth up to €125 p/p on spend of €625 [accom, food and non-alcoholic drinks] between Oct 2020 and April 2021 • In certain cases, earlier carryback of trading losses will be permitted to release tax refunds • PUP was due to end in August but will be extended until 1 April 2021 with reduced payments • A €2bn credit guarantee scheme to support businesses [80% Govt guarantee] • 0% bank interest for first year of SME loans • €450m package of business supports including €250m for the Restart Grant.  Restart Grant criteria to be broadened [€25,000 max] • Cycling allowance of €1,000 to increase to €1,250 & to €1,500 for electric bikes • Grant for self employed individuals who do not qualify for business restart grants • Enhanced assistance for First time buyers to stimulate demand • €200m package of employment & training supports • Packages for capital projects including infrastructure/schools/transport/tourism/town & village renewal, etc

3 views0 comments

Recent Posts

See All

Companies Registration Office (CRO) have confirmed that with effect from 11 June 2023 the new requirement for PPS number (PPSN) disclosure for Directors will be required when submitting certain CRO fo

The European Central Bank (ECB) has raised interest rates again to maintain its battle against inflation but eased the pace of increase. The main policy rate was hiked by 0.25% to 3.25% by the euro ar

bottom of page