The Act introduces a new Employment and Investment Incentive and Seed Capital Scheme to replace the existing Business Expansion Scheme (BES) and Seed Capital Scheme. The new schemes will only come into operation after the necessary approval from the European Commission has been received and will be subject to Commencement Order from the Minister of Finance. The current BES and SCS provisions will remain in place until such time as the Commencement Order gives effect to the new provisions.
The principal changes announced are as follows:
|Company Fundraising Limts -||Current Scheme -||New Scheme|
|Aggregate (lifetime)||€2 million||€10 million|
|12 Months||€1.5 million||€2.5 million|
For further information please contact OSK Tax.
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