Proposals to improve the Irish tax system by creating greater tax incentives will have positive effects for Irish business interests, according to the recent pre-Budget Submission from the CCAB-I (Consultative Committee of Accountancy Bodies – Ireland.)
This news will be welcomed, following recent reports of growing fears amongst tax practitioners over Ireland's ability to attract foreign investment opportunities.
One of the major points highlighted by the CCAB-I was the need to update company tax rules in order to encourage more multinational corporations to establish holding companies in Ireland.
Chairman of CCAB-I, Vincent Sheridan commented: “With a combined membership of over 20,000 accountants directly involved in all aspects of tax law and practice, CCAB-I is in a unique position to bring informed comment and proposals to the Minister. Our proposals in other years to improve the Business Expansion Scheme, the VAT position for smaller businesses and the tax payments arrangements for companies have been adopted and resulted in positive results for Irish Business.”
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