SFA submission to the SME tax incentives consultation
In May, the SFA made a submission to the Department of Finance's SME tax incentives consultation. 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.
Taxation is one of the most powerful tools available to government to achieve its objectives. If this government or a future one decides to get behind small businesses, changes in how we treat small firms and start-ups through the tax system must be activated. Such changes would provide Ireland’s indigenous businesses with the opportunity to invest in innovative or export activities, improve management practices and create employment. Our response outlined the main changes needed to the above schemes to bring about a more comprehensive tax policy.
The submission reiterated the Association's support for an overhaul of our tax policy system in order to make a real difference to the small businesses of Ireland. The submission is available to view on our website along with the SFA tax policy document ‘A small business strategy for Ireland: a supportive tax environment for small firms’.