Extract from Minister Noonan's Budget 2015 Speech  - Government prioritising the Marine as a key area for further growth

"Having experienced the positive outcome of the Agri-taxation review, I am now proposing a similar exercise for the Marine sector. The Government has prioritised the marine as a key area for further growth under the Harnessing Our Ocean Wealth Strategy, with a target of doubling the value of Ireland’s blue economy by 2030.

I am keen to ensure there is a supportive financial environment underpinning this target and so I intend to review the financial and taxation supports and opportunities available to the marine sector. This exercise will not cover offshore petroleum exploration and production, as a revised taxation regime for this area has already been determined. My Department will work closely with the Marine Co-ordination Group to examine strategic measures that could be introduced to help Ireland as an island nation to fulfil its potential in the marine area."

ENDS

Source: http://www.finance.gov.ie/budget

Published: 17th October 2014