Stay and spend scheme comes into effect

Stay and spend scheme comes into effect

The Government’s Stay and spend scheme officially comes into effect today.

The Government’s Stay and spend scheme officially comes into effect today.

The scheme will provide a maximum of €125 in income tax credits to tax-payers who spend up to €625 in restaurants, pubs, hotels, B&Bs and other qualifying businesses, from Autumn 2020 through to Spring 2021, including over the Christmas period.

From today. tax-payers can upload their receipts for qualifying expenditure to the Revenue Receipts Tracker mobile app, to avail of the tax relief.

The Minister for Finance, Paschal Donohoe TD; and Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media, Catherine Martin TD, have welcomed the commencement of the scheme, which is aimed at consumers to help drive sales in the hospitality sector which has been negatively impacted as a result of Covid-19.

Minister Donohoe said the hospitality sector has been badly hit as a result of the necessary public health restrictions put in place to suppress the spread of Covid-19 in Ireland.

“The sector is vital to our economy and the Stay and Spend scheme will help support it in these difficult times,” he said.

Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media Catherine Martin TD said it is unfortunate that the tourism industry in Dublin and Donegal is currently hugely restricted, and businesses throughout the country are impacted by the restrictions on movement to and from Dublin. 

“However if anything it reinforces the need to provide what supports we can to tourism businesses. In this context, the Stay and Spend initiative will assist businesses throughout what will be a challenging winter season. While people may be restricted in their ability to move around the country, the initiative can of course be used for expenditure locally in cafes and restaurants, and I would encourage people to avail of the scheme to support our tourism and hospitality sector,” she said.

Restaurants, hotels, pubs, B&Bs and other qualifying businesses that have not yet registered for the scheme are being encouraged to do so.

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