Ireland unveils 6.5 billion euro coronavirus business package

DUBLIN: Ireland will allow firms impacted by the coronavirus crisis to warehouse tax liabilities for 12 months, offering a"lifeline" as part of an additional package of business supports that could reach 6.5 billion euros , the government announced on Saturday .

The government concentrated its initial 8 billion euro fiscal response on increased jobless payments and wage subsidies for workers, with 1 billion euros of liquidity supports offered to reeling firms. Highlighting the scale of the economic shock, Donohoe said firms had deferred 800 million euros of tax in March alone and that that figure could reach 2 billion euros by June.He also hoped the Ireland Strategic Investment Fund's new equity fund would lead to investment far in excess of the 2 billion euros available capital as it will seek to maximise added capital from existing shareholders and new co-investors.

Hotels, restaurants and pubs, which will only be allowed operate at limited capacity when they open, have called for the VAT rate for the hospitality sector to be temporarily cut to 0 per cent from 13.5 per cent and for state funds to help them pay rent.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Australian PM's call for coronavirus inquiry may harm long-term China trade: Business leadersSYDNEY (REUTERS) - The Australian government's diplomatic stoush with its largest trading partner, China, over Canberra's push for a coronavirus inquiry has some of the nation's top business leaders nervous that economic ties will become irreparably damaged.. Read more at straitstimes.com. bradhooperarch So you are not allowed to question China and inquire about a pandemic that has cost Australia and the world trillions of dollars along with changing peoples lives? There is absolutely no way our PM ScottMorrisonMP should back down 1mm covid19australia coronavirus Prawda musi być NR ONE I believe the Australian PM is as they say ‘looking towards the future’. Sure it’s good to look out for your people but shouldn’t he also have the responsibility to look for answer and not be afraid of China’s bullying tactics
Source: The Straits Times - 🏆 8. / 63 Read more »

For cloud giants, usage soars but tech investment delays hobble revenue growthAs lockdown orders force billions of people to work, learn and play from home during the novel coronavirus outbreak, usage has surged for the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »