Ireland’s green companies may get tax breaks and grants

In a bid to attract more low energy companies to Ireland, further tax breaks and grants are set to be recommended by a new government action group, reports the Sunday Business Post.

The Department of Finance and Department of the Taoiseach are looking into ways of boosting the number of ‘greentech’ jobs in Ireland, with the development of lower levels of tax expenditure and grants touted as ways of boosting the number of environmentally-friendly countries in Ireland.

Innovation body Forfas recently stated in a report that the Irish environmental goods and services sector is worth €3.6bn, with the company’s chief executive Martin Cronin stating that Ireland should focus on areas of potential where it can “compete and win”.

He added: “The global community faces many environmental challenges as we all seek to reduce our carbon footprint. These challenges can open doors to new business opportunities for companies across the island of Ireland.”

Further findings of the report suggested that the number of environmental companies in Ireland is growing but with the areas of renewable energies; efficient energy use and eco-construction; waste management, recovery and recycling; water treatment and environmental consultancy services, having the most capacity for development.

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