The Department of Finance has published the final results of the 2006 Review of the Business Expansion Scheme (BES) and the Seed Capital Scheme (SCS). You will recall that the preliminary results were included in February edition of tax.point.

ICAI had been actively involved in representations with the Department of Finance and the Revenue to extend the BES relief. The results of the survey provide strong support for the measures introduced by section 18 of the Finance Bill 2007 as initiated to extend the BES relief.

The Department of Finance has already engaged with the Commission on the requirement for approval under the State-Aid rules. It is not certain when the Commission will make its decision.

The final review results are available at http://www.finance.gov.ie