Businesses affected by the unusual rise in energy prices brought on by the current global scenario will get assistance from the Temporary Business Energy Support Scheme (TBESS). The program, which will be run by Revenue, offers eligible businesses a cash incentive. Businesses that are engaged in a trade or profession and whose profits are subject to tax under Case I or Case II of Schedule D and have seen a large increase in their electricity and natural gas expenses are the target market for TBESS.
Businesses will receive assistance with their electricity or natural gas (energy) expenditures over the winter thanks to the Temporary Business Energy Support Scheme (TBESS). The program will be accessible to businesses that:
To be eligible to make a claim under the TBESS in respect of an electricity bill or a business must be able to show that the average unit price of electricity or natural gas on the relevant bill has increased by 50% or more when compared to the average unit price of electricity or natural gas in a reference period in order to be eligible to submit a claim under the TBESS for an electricity bill or a natural gas bill. The eligible business is a “qualifying business” once it meets a number of other requirements and has over the energy expenses threshold in regard to a certain electricity or natural gas bill.
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