Thursday 14 December 2017

Firms will earn rebate for efficient equipment

Paul Melia

BUSINESSES that use energy-efficient equipment, including air conditioning, lighting and electric vehicles, will be able to claim back the full cost against their tax bills.

The Finance Bill, published yesterday, extends the Accelerated Capital Allowance Scheme for 2010 which allows companies to buy energy-efficient equipment and write off its full cost against corporation tax in the year of purchase.

Introduced in 2008, the scheme now includes up to 40 different technologies, and any business can apply for the relief.

It covers refrigeration and cooling systems, catering equipment, IT equipment, lighting, and electric vehicles.

Energy Minister Eamon Ryan said yesterday that by using more energy-efficient equipment, companies' bills could be reduced.

"Every day, companies are asking how they can be more efficient in the way they use and manage their energy," he said. "With this level of interest and dedication on the part of business people, it is right that we assist them in making the switch.

"The aim of this scheme is to help Irish businesses of all sizes, not only to reduce their energy use, but crucially to save money.

"It's working well and I encourage all businesses to get involved."

Irish Independent

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