On Tuesday, Jack Chambers introduced his first Budget as Minister for Finance as Ireland prepares for a looming Election.
Head of Tax for Ireland at Interpath Denis Herlihy offers his take on the key announcements for the Irish business community:
“Buoyant public finances coupled with stabilising inflation put the Minister in an enviable position compared to a good number of his European counterparts. While many of the key tax measures were leaked in advance of the Budget announcement, such as the increase in the capital acquisition tax thresholds and increases to the income tax bands, there were some new measures to capture headlines, not least to support Irish entrepreneurs."
“Our SME sector will take heart from the incentives. The Minister has pulled fiscal levers to encourage more investment in fledgling and emerging businesses with large increases to key tax reliefs, such as Employment Investment Incentive, Startup Relief for Entrepreneurs and CGT relief for innovative start-ups. This was certainly a giveaway Budget that will help set the talking points for business leaders as we head into an election.”
