Incentive to boost exports to BRICS nations welcomed

A MASSIVE boost is expected for the development of new product sales abroad by Irish companies.

The Government announced a “foreign earnings deduction” which will apply where a person spends at least 60 days a year developing markets for Ireland in Brazil, Russia, India, China and South Africa. It said this will incentivise companies to place staff overseas to encourage export sales.

Chief executive of the Irish Exporters Association, John Whelan, said this is one of the most “export promotional budgets” they have seen for decades. He added that it will go a long way to assisting exporters develop new products and sell services into rapidly growing but distant BRICS markets.