SEAI invites submissions on green tax breaks

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The Sustainable Energy Authority of Ireland (SEAI) today announced that it is inviting submissions from manufacturers and suppliers to the new Accelerated Capital Allowances (ACA) equipment categories announced by the government as part of the Finance Act.

The Sustainable Energy Authority of Ireland (SEAI) today announced that it is inviting submissions from manufacturers and suppliers to the new Accelerated Capital Allowances (ACA) equipment categories announced by the government as part of the Finance Act. The ACA is a tax incentive for businesses to encourage investment in energy efficient equipment.  Introduced in 2008, it offers an incentive whereby companies are allowed to write off 100% of the cost of qualifying equipment against corporation tax.

The new categories are refrigeration and cooling systems, electro-mechanical systems and catering and hospitality equipment. Equipment manufacturers and suppliers are now invited to submit their eligible products to the new categories through the scheme’s online process. Full details of the submission process are available through www.seai.ie/aca. Submissions are accepted on an ongoing basis with the list updated periodically throughout the year.

SEAI's Brian Motherway said: “The Accelerated Capital Allowance Scheme acts as an important incentive to companies to invest in energy efficient equipment and we welcome the extension of the Scheme. We have seen an upturn in interest around energy efficient equipment since the ACA’s introduction in 2008. The growing awareness of companies looking at the lists of energy efficient equipment is both an acknowledgement of the success of the ACA to date and the genuine shift in business moving towards more energy efficient practices and investment.”

In order to be included on the ACA eligible list, products must meet "stringent" efficiency criteria, SEAI said. ACA eligible lists already contain more than 5,600 products.

Last modified on Tuesday, 15 June 2010 12:19

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