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Displaying items by tag: Special Tax Credit

A special tax credit by the Government is to introduced for sea-going naval personnel from next year.

Serving members of the Naval Service, who spend at least 80 days at sea, will be eligible for the credit worth €1,270 per annum.

It will be introduced into the Dáil by way of an amendment to the Finance Bill tomorrow.

The challenges facing the Defence Forces over pay, conditions, recruitment and retention have been getting increased attention over the past year.

Minister for Defence Paul Kehoe said the introduction of a special tax credit for sea-going naval personnel is a step towards addressing those challenges. 

For more RTE News reports here. 

Published in Navy

About Foyle Port

Foyle Port, located in the North West region of Northern Ireland, is estimated to handle around 2 million tonnes of cargo per year, with a trade value of approximately £1 billion. The port plays a crucial role in facilitating the import of essential agri-products, supporting around 20,000 farms in the region, as well as various local business sectors such as fuel/oil and construction industries. The organisation supports an estimated 1000 direct and indirect jobs.

Originally located in the bustling heart of Derry City, the Commissioners relocated the port to its current deep-water location at Lisahally in 1993. The terminal boasts an impressive 440 metres of quay and can accommodate large vessels of up to 62,000 DWT. Foyle Port is primarily a bulk port and a significant importer of essential commodities such as oil, coal, animal feed, fertiliser, and plywood, all of which are vital for the North West rural region.

Since 2003, the organisation has experienced significant growth, doubling both turnover and profit and attracting approximately £100 million of inward investment to the region. This investment has supported projects, including a fertiliser plant, an oil tank farm, and a biomass power station.

Established by Act of Parliament in 1854, the Londonderry Port & Harbour Commissioners is an independent statutory authority with a duty to develop, maintain and operate to the highest standards of efficiency, financial prudence, environmental awareness, safety, and security. The Port is independent of the Government and is self-financing. All financial surpluses are reinvested in the business for the benefit of future generations of stakeholders.