491 Qualifying companies (supplemental)

(1) Internationally Traded Financial Services

“Internationally traded financial services” means, with the exception of activities listed in subparagraphs (b) or (c) of the definition of “relevant trading activities”, the services specified in the schedule to the Industrial Development (Service Industries) Order 2010 (S I. No. 81 of 2010).

In order to be a qualifying company, a company whose relevant trading activities includes internationally traded financial services must be in receipt of a certificate from Enterprise Ireland confirming that the company’s activities are of a kind specified in the schedule to the Industrial Development (Service Industry) Order 2010 (S..I. No. 81 of 2010).

(2) Tourist traffic undertakings

(2)(b) A company engaged in tourism activities, within the meaning of section 489, is not to be a qualifying company unless and until it has satisfied the Revenue Commissioners that the National Tourism Development Authority (trading as Failte Ireland) has approved a 3 year development and marketing plan prepared by it which is primarily designed and formulated to increase tourist traffic and revenue from outside the State.

(2)(c) In considering whether to approve a plan, the National Tourism Development Authority (trading as Failte Ireland) shall have regard only to the guidelines for the approval of plans as are agreed between it and the Minister for Tourism, Culture and Sport with the consent of the Minister for Finance. These guidelines may set out -

• the extent to which the company’s interest in land and buildings may form part of its total assets,
• specific requirements which have to be met in order to comply with the objective of increasing tourist traffic and revenue from outside the State, and
• the extent to which, EII, SCI and/or SURE funds raised should be used on promotional work abroad.

Green energy activities

(3)(a) “Energy from renewable sources” means energy from renewable non-fossil sources, that is to say wind, solar aerothermal, geothermal, hydrothermal and ocean energy, hydropower, biomass, landfill gas, sewage treatment plant gas and biogases and includes the development of any facilities for the storage of energy from renewable sources.

“Green energy activities” refers to activities carried out with the purpose of producing energy from renewable sources.

“Grid connection agreement” means an agreement with the transmission system operator or distribution system operator, or an offer from the transmission system operator or distribution system operator to enter into an agreement for connection to, or use of, the transmission or distribution system

(3)(b) A company who is carrying on green energy activities will be considered to have commenced these activities when it has made an application for a grid connection agreement.

Relevant Date: Finance Act 2021