Publication
Tax and Entrepreneurship Review Submission
From Department of Enterprise, Trade and Employment
Published on
Last updated on
This submission by the Department of Jobs, Enterprise and Investment draws together inputs from Enterprise Ireland, IDA Ireland and is comprehensive. It has been structured to answer the specific questions raised in the consultation document and therefore encompasses a broad range of measures.
The executive summary highlights those aspects that are deemed a priority in the context of Budget 2016, in order to redress barriers and to stimulate greater levels of entrepreneurial activity, job creation and growth. The main areas of focus relate to recommended changes in aspects of Capital Gains Tax and Income Tax regimes with the aim of presenting a comprehensive and connected tax System that: incentivises entrepreneurs to start and grow a business; encourages investment into businesses; helps our businesses to attract and retain talent and that better recognises the risk/reward dynamic that influences individuals’ choices.
Our submission also notes that a number of aspects of the existing regime are working well, are supportive of entrepreneurship and should be retained. In some instances there may be a longer time-frame required to deliver to desired outcomes (for example, where a road-map setting out objectives and time-lines is desirable). Overall, there needs to be ongoing and regular review of measures in the context of Ireland’s relative competitiveness with other jurisdictions in the context of a changing external environment, including measures such as R&D tax Credit, SURE, and USC.
