“Cash flow and Access to Equity remain key challenges for businesses” was the message from Limerick Chamber Economist Dr. Órlaith Borthwick this week as she highlighted how Limerick Chamber is engaged in the national debate on behalf of its members.
“The Department of Finance have introduced and tweaked a number of schemes in recent budgets to address the problems faced by businesses in raising necessary equity but also easing cash flow challenges. While they are committed to maintaining Ireland’s competitive advantage some taxation policies need to be reviewed to bring us more in line with international norms.
As part of a Department of Finance consultation on the Employment Incentive Investment Scheme, Seed Capital Scheme and Foreign Earnings Deduction and Limerick Chamber last week made a number of recommendations including:
- Upfront relief of 41% on EIIS;
- Broaden the EIIS to include higher risk and early stage internationally traded businesses;
- Remove the €150k cap on the EIIS;
- Make the Seed Capital Scheme more attractive for the self-employed;
- Process income tax refunds quickly to aid start-up firms with cash flow;
- Extend the countries eligible for the Foreign Earnings Deduction;
- Remove the €35,000 Foreign Earnings Deduction cap.
“Limerick Chamber is committed to delivering the best business environment for our members to operate in. Out lobbying work plays a key part of our strategy to drive this on behalf of our members and we pledge to continue to seek to influence policy outcomes which will assist our members” concluded Dr. Borthwick.
Ends
For more information contact Órlaith Borthwick e| oborthwick@limerickchamber.ie m|086-4136161
Notes to Editor
A full copy of Limerick Chamber’s submission to the Department of Finance is available here
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