Fianna Fáil Spokesperson on Public Expenditure Seán Fleming TD has secured an amendment to the Finance Bill to assist Irish exporters in increasing their foreign income and market share in a number of major countries.
The Bill, as published by the Minister, stated that employees of Irish companies had to spend ‘10 consecutive days’ in any of the BRICS countries in order to qualify for a special tax deduction. The purpose of this new measure was to encourage Irish businesses to send their staff abroad to increase sales in Brazil, Russia, India, China and South Africa.
Deputy Fleming, at Second Stage, suggested that the 10 consecutive days was too long and not practical for many Irish businesses. He proposed that the Finance Bill be amended to reduce this number of days.
Today the Government brought forward amendment number 22 to Section 12 of the Finance Bill to reduce the 10 days to 4 consecutive days to qualify for the new tax reduction. Overall, a person will still have to spend 60 days in the BRICS countries to qualify.
Minister of State at the Department of Finance said at the Committee Stage of the Finance Bill today: “Having considered the comments of Deputy Fleming during second stage I have decided to bring forward an amendment to this scheme…The change will allow shorter business trips to qualify.”
Deputy Fleming commented, “Fianna Fáil is determined to play a constructive and positive role in opposition and the acceptance of my proposal to help Irish businesses is yet another example of this.”