Our latest tax act comes with a silver lining on business losses

The newly-introduced Financial Provisions Act means hard-pressed firms can now access the July stimulus tax reliefs

30th August, 2020
Our latest tax act comes with a silver lining on business losses
The idea of the new legislation is to provide cashflow to previously profitable companies that became loss-making due to Covid-19

This column has covered the tax measures required to modernise the economy for some time now. So it was good to see President Michael D Higgins sign the Financial Provisions (Covid-19) (No 2) Act into law on August 1, 2020 as it involves the tax elements of the July stimulus.

It’s worth noting the legislation was initiated on July 23, and was signed into law less than two weeks later. The Revenue also published guidance on these provisions...

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