The Minister for Finance, Brian Cowen, has announced a significant tax incentive aimed at building infrastructure for the tourism industry on the River Shannon.
The minister unveiled the scheme as part of the Finance Bill which was published this afternoon.
This scheme is aimed at encouraging investment in marinas and sailing as well as health farms.
It will cover a corridor of 12km on either side of the River Shannon from Lough Derg to Lough Ree.
The minister has also changed the tax regime for stud fees.
Previously, these businesses did not have to pay tax on profits - an arrangement disliked by the European Commission.
Now stud businesses will be levied on profits but they will be able to write the cost of buying stallions off against tax. The horse breeding industry made income of €28m in 2004.
Brian Cowen also introduced measures to stop individuals impersonating officials from the Revenue Commissioners.
This apparently happened on a number of occasions when people were trying to get confidential documents under false pretences.
The bill also includes technical measures to improve the operation of the taxation system and removes a VAT waiver which was available to property investors.
