I’ve just heard (via Joe Drumgoole’s blog) that the new BES limits annnounced last November have finally been approved by the EU. This is fantastic news.

This is the official EU newsletter announcement:

N 287 / 2007 – Business Expansion Scheme (BES), incorporating the Seed Capital Scheme (SCS).
Member State: Ireland
Primary Objective: Risk capital
Aid instrument: Provision of risk capital
Tax allowance
Case Type: Scheme
Duration: from 01.07.2007 to 31.12.2013

Notification or Registration Date: 23.05.2007
DG Responsible: Competition DG
Related Procedures: N 311 / 2004

Decision on 23.08.2007: Article 4§3 – decision not to raise objections

This presumably means that Enterprise Ireland should be processing new company certs starting five days ago and the Revenue Commissioners should be approving RICTs.

UPDATE 1: Looks like new legislation required to deal with some provisos set by EU. This is coming “shortly”. Presumably when the Dáil reconvenes. Shouldn’t cause any hold-up with new company certs tho.

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