New Budget 2021

Oct 18, 2020

BUDGET 2021 for small businesses and the self-employed:

1. The self-employed tax credit increased by EUR 150 to EUR 1650;
2. COVID-19 Restriction Support Program announced for companies forced to close or whose trade has been severely hit by government restrictions during COVID-19:
3. Pandemic Unemployment Benefit Changes – Self-employed people can earn up to € 480 per month while still qualifying for the benefit;
4. Reduction of the VAT rate on hotel and tourism from 13.5% to 9%;
5. Extending the freezing of land taxes (RAC) until the end of this year;
7. The employee remuneration subsidy program will be extended beyond March 2021;
8. Help to Buy program extended by another 12 months
10. The carbon tax was increased by EUR 7.50 to EUR 33.50 per tonne;
11. Agriculture – Extension of tax credits for the transfer of agricultural land