Main Recommendations of Accountants
- End discrimination against the self-employed in the tax system – introduce tax credits for them – end the additional USC for Self-Employed on earnings over €100k.
- Assist workers on average wage by lowering the higher tax rate to 39%.
- Ensure that the Irish tax base is not compromised by the OECD Base Erosion and Profit Shifting proposals.
- Put the treatment of travel expenses incurred by non-executive directors in the commercial sector on an equal footing with their peers in non-commercial bodies.
- Change the EIIS and SURE to make these reliefs available to a broader range of businesses and compatible with how a business is commercially funded.
- Provide an income tax credit to individuals who move savings out of deposit accounts into SME ventures.
- Introduce a reduced capital gains tax rate of 12.5% on disposals of trading assets and shares of trading companies.
- Increase the capital acquisitions tax thresholds in line with the thresholds in place before the economic downturn