Tax System Must Support Entrepreneurs, Not Penalise Them
Chambers Ireland has called on Minister Noonan to take note of recommendations made by the Department of Jobs, Enterprise and Innovation regarding changes to the taxation system that will support entrepreneurship and job creation.
Speaking this morning, Ian Talbot, Chief Executive, Chambers Ireland said “We have consistently called for further support for entrepreneurs in Budget 2015 through a reduction in Capital Gains Tax to 20% and changes to both the Employment Investment Incentive and the Seed Capital Scheme. Now, the Department of Jobs has backed up these calls by including them in their National Policy Statement on Entrepreneurship in Ireland. If the Department that has responsibility for supporting job creation thinks these measures are necessary then it is time Minister Noonan took note.”
Commenting on these recommendations, Martin Doyle, President of Wexford Chamber, said “We desperately need to improve our cultural view of entrepreneurs. The reality is that they create businesses that create jobs but with enormous pressures and high risk of failure. They deserve to be supported and encouraged by our taxation system, not penalised by it. The measures outlined in today’s plan to encourage entrepreneurship are welcome. However, these measures will only truly be effective if the Government continues support for entrepreneurs throughout their lifetime and that of their business. To achieve this, changes in the taxation system are vital.”
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