IBEC has lobbied Government relentlessly over recent years to introduce targeted measures to support business grow, improve competitiveness, create employment and improve productivity. While much more needs to be done to support growth and job creation, some important steps have been taken. It is crucial that employers are aware and avail of the supports that are already on offer and the state agencies that may be in a position to assist.
For example, the Employer Job (PRSI) Incentive Scheme is open to employers who create new and additional jobs. Under this scheme, employers do not have to pay the employers’ portion of the PRSI contribution for certain employees for 18 months.
The Employment Investment Incentive (EII) is a tax relief incentive scheme which has replaced the Business Expansion Scheme. It provides tax relief for investment in certain corporate trades. The maximum investment by all investors in any one company or group of companies is €10,000,000 subject to a maximum of €2,500,000 in any one twelve month period. It allows individual investors to obtain income tax relief on investments up to a maximum of €150,000 per annum in each tax year up to 2013.
The Three Year Corporate Tax Exemption scheme provides relief from corporation tax on the trading income and certain gains of new start-up companies in the first three years of trading.
Please find below links to the relevant sections on the Department of Jobs, Enterprise and Innovation’s website which outline the relevant supports on offer:
Download Financial Support for Business information leaflet.
