IN the first major policy announcement since formation of the coalition government the stimulus package was announced on July 23rd 2020. It is the next step in recovery for businesses following the introduction of the previous wage subsidy scheme.

The estimated cost of €7.4 billion represents the government’s commitment to Irish businesses and includes a mixture of tax cuts, expenditure and support credits. The stimulus package represents a light at the end of the tunnel for many businesses and it includes a number of legislative changes as well as Revenue precedents with the aim of assisting businesses return to a new normal. The government has introduced €1 billion of taxation measures to assist the recovery so, with this in mind we have highlighted some of the opportunities arising from a tax perspective for equine trades as businesses respond to the ever changing working environment.