New scheme launched to give extra tax credits to anyone who holidays at home

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Details of a new tax break for people who holiday at home have been revealed.

Stay and Spend will provide a tax credit of 20% to anyone who spends up to €625 in restaurants, pubs, hotels or B&Bs between now and next spring. It also includes any spending over the Christmas period.

People will be able to submit receipts through the Revenue Receipts Tracker app.

Finance Minister Paschal Donohoe told RTÉ News that people will be able to claim the tax break over two years. He also added that alcohol spend is not included in the scheme.

Speaking at the launch of the scheme, Taoiseach, Micheál Martin said:

"We recognise the strain that restaurant owners, hoteliers, bar and café owners are under and have taken steps to help them through this difficult period."

"The Stay and Spend scheme will encourage people to go out for a meal or take a staycation and support the Irish hospitality sector by enabling them to claim back 20% of their spend."

10% of the country's workforce is employed in the Hospitality sector and the government says this stimulus will help support those jobs.