The KFO welcomed the announcement today by Minister Michael Noonan in his budget speech that he will introduce the seafarers allowance for those working on board fishing vessels. The effect of this change is to extend the Seafarers Allowance of €6350 amounting to a tax credit of €1270 to workers on board fishing vessels.
Sean O Donoghue CEO said: “This is very good news and comes after many years of lobbying for its introduction and removes an anomaly in the Taxes Consolidation Act where those working on board fishing vessels were specifically excluded from claiming the allowance. The independent review of Marine Taxation carried out by Indecon consultants last year and published as part of the last year’s budget recommended the introduction of Seafarers allowance and a number of other marine taxation measures. I am pleased that Minister Noonan followed through on his commitment in last year’s budget to establishing the feasibility of their implementation in future Budgets by its introduction today. I would also like to recognise the support from Minister Creed and his officials and Pat the Cope Gallagher TD for all their work in bringing this measure finally to fruition. ”
He added: “I am convinced that the introduction of this measure will be a significant boast to maintaining employment and encouraging new entrants to the fishing sector and also to assist viability and safety of the sector. As with all these measures the ‘devil is in the detail’ and I hope when the Finance Bill is published it will not contain any surprises. .
ENDS
Contact Details:-
Sean O’Donoghue, CEO Killybegs Fishermen’s Organisation 087 – 4196535 or 074 97 31089
Sean O Donoghue CEO said: “This is very good news and comes after many years of lobbying for its introduction and removes an anomaly in the Taxes Consolidation Act where those working on board fishing vessels were specifically excluded from claiming the allowance. The independent review of Marine Taxation carried out by Indecon consultants last year and published as part of the last year’s budget recommended the introduction of Seafarers allowance and a number of other marine taxation measures. I am pleased that Minister Noonan followed through on his commitment in last year’s budget to establishing the feasibility of their implementation in future Budgets by its introduction today. I would also like to recognise the support from Minister Creed and his officials and Pat the Cope Gallagher TD for all their work in bringing this measure finally to fruition. ”
He added: “I am convinced that the introduction of this measure will be a significant boast to maintaining employment and encouraging new entrants to the fishing sector and also to assist viability and safety of the sector. As with all these measures the ‘devil is in the detail’ and I hope when the Finance Bill is published it will not contain any surprises. .
ENDS
Contact Details:-
Sean O’Donoghue, CEO Killybegs Fishermen’s Organisation 087 – 4196535 or 074 97 31089
