Consultation process on SME tax incentives - Stakeholder Consultation Event

As part of the preparations for Budget 2020 and Finance Bill 2019, the Tax Division of the Department of Finance is undertaking a stakeholder consultation process on tax incentives for the Small and Medium Enterprise sector.

The first phase of this process involved a written consultation which concluded on 24 May 2019. The Department invited interested parties to make submissions in relation to the Employment and Investment Incentive (EII); Start-up Refunds for Entrepreneur (SURE); the Start-up Capital Initiative (SCI); the Key Employee Engagement Programme (KEEP); and CGT Entrepreneurs' Relief.

In addition, a written consultation on the Research and Development (R&D) Tax Credit is currently running on the Department’s website and remains open for submissions until Friday 7 June. Among other factors, this consultation aims to assess the difficulties faced by SMEs claiming the credit and requests any suggestions to improve the relief for SMEs.

The Department is pleased to announce that we will host a follow-up consultation event for stakeholders on Thursday 6 June 2019 in Trinity College Dublin (Joly Theatre). The event will run from 9am-4pm, with a light lunch being provided.

Due to limited availability, we would kindly request that you advise us of your intention to attend by COB Tuesday 4 June 2019.

Please email taxpolicy@finance.gov.ie with names of attendees and details of the organisation you represent.

Please see the below for further details of the programme and venue.

NB. For the purpose of compliance with the Lobbying Act 2015, attendees should note that a Department of Finance Designated Public Official will be in attendance at this consultation event. Lobbyists should familiarise themselves with their obligations under the Lobbying Act 2015.

Programme

6 June 2019

Morning Session

9:00 Registration & Tea/Coffee

9:30 Introduction

John Hogan, Assistant Secretary General, Department of Finance

9:45 Key Employee Engagement Programme (KEEP)

• Introductory remarks

• Presentation and discussion of proposals received in written consultations

• Conclusions

11:15 Tea/Coffee

11.45 Employment and Investment Incentive (incl. SURE)

• Introductory remarks

• Recap on changes made in Finance Act 2018 post Indecon review and proposals for further change in the structure of the relief

• Presentation and discussion of comments received in the written consultations

• Conclusions

13:00 Lunch

Light lunch will be provided for participants

Afternoon Session

14:00 Research & Development Tax Credit for SMEs

• Introduction on R&D credit in general and SME element of 2019 review

• Discussion of potential options to improve uptake of the credit by SMEs

• Q&A with conference attendees on policy merits of potential SME-focussed measures

15:00 Revised CGT Entrepreneur Relief

• Introductory remarks

• Presentation and discussion of previous proposals received and in written consultations

• Comments and conclusions

16:00 Close

__________________________

Venue

Joly Lecture Theatre,

Hamilton Building,

Trinity College Dublin,

D02 PN40

Please note parking is not available at the venue.

1. Public Consultation Research and Development Tax Credit Review 2019