Stay and Spend is a tax scheme that has been created to support the Irish tourism and hospitality sector to help drive sales during the shoulder season.
Aimed at consumers, the scheme will provide a maximum of €125 in income tax credits to tax-payers who spend up to €625 in restaurants, pubs, hotels, B&Bs and other qualifying businesses, from 1st October 2020 to 30th April 2021, including over the Christmas period. It is available to 2.7 million Irish consumers and will see taxpayers earn a tax credit equal to 20% of qualifying expenditure on accommodation, food and non-alcoholic drinks up to a maximum credit of €125.
This amount will be doubled for jointly assessed couples, who can receive a credit up to €250.
Consumers can submit receipts via the newly updated and easy-to-use Revenue Receipts Tracker mobile app. Where a taxpayer has insufficient income tax liability to fully benefit from the measure, they may still avail of the relief against their USC contributions.
