TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Commission extends State aid Temporary Framework

The European Commission has extended the State aid Temporary Framework until 31 December 2021. The purpose of this is to support European economies during the ongoing COVID-19 crisis. The scope of the framework has also been expanded.

The Commission’s press release outlines that the Temporary Framework was set to expire on 30 June 2021, however in light of the persistence and evolution of the COVID-19 outbreak, the extension prolongs all measures set out in the Temporary Framework until 31 December 2021.

The Temporary Framework is also expanded in scope by increasing the ceilings set out in it and by allowing the conversion of certain repayable instruments into direct grants until the end of next year.

The scope has also been expanded for companies with turnover losses of at least 30 percent. The State can contribute up to €10 million (increased from €3 million) to the fixed costs of these companies.