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ISA Tax Review Calls For Increased Incentives

by Jason Gorringe, for LawAndTax-News.com, London

31 March 2005

In its recently released review of software sector taxation in Ireland, the Irish Software Association urged the government not to restrict tax breaks for the industry which have proved crucial in fostering growth.

The Association's director, Michele Quinn suggested that:

"Despite the recent slowdown in the global economy, opportunities exist for Ireland to continue to develop software companies who are capable of dominating niche markets."

The ISA review called for the extension of projects such as the Business Expansion Scheme and the Seed Capital Scheme, and suggested an increase in the BES company limit to EUR5 million, and a personal limit increase to EUR300,000 per investor per year.

The Irish Software Association also called for the legislation governing the tax treatment of employee stock options to be made less restrictive.

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