Employer PRSI contribution ceiling of £36,600 (€45,711) to be abolished from April 6th, 2001.
PRSI income ceilings for the self-employed and proprietary directors to be abolished. Contributory rates for this category to be reduced from 5 per cent to 3 per cent.
Corporation tax to be reduced to 20 per cent from 24 per cent from January 1st, 2001. Small and medium-size companies with trading income of up to £200,000 will qualify to pay corporation tax at 12.5 per cent.
VAT on all goods and services to be reduced to 20 per cent from 21 per cent from midnight December 31st, 2000.
Capital allowances for plant and machinery to be reduced from seven to five years from January 1st, 2001.
The car threshold for the restriction of capital allowances, running expenses and leasing expenses will be increased from £16,500 to £17,000. It will apply to capital allowances for new cars and allowable expenses for all cars used in the course of business.
Business Expansion Scheme and Seed Capital Scheme to be renewed to the end of 2001.