The Small Firms Association (SFA) has today launched its Budget 2019 submission. The Association warns that at 33%, Ireland has one of the highest rates of capital gains tax (CGT) amongst developed economies.

The SFA is calling for a reduction in CGT to 20% across the board, to make investing in a business in Ireland more attractive. 

CGT represents only 1% of the Government’s tax revenue, so SFA say there is very little to lose by reducing the rate, but the benefits could be significant. The SFA is also calling for CGT Entrepreneur Relief to be extended to compete with the UK scheme.
  
Ibec believe that Budget 2019 must focus on the small businesses in Ireland. In doing so, they say the Government would reduce the risk on our economy from over reliance on foreign direct investment while seizing an important opportunity to future proof Ireland's economic model.
 
Launching the Small Firms Association’s Budget 2019 submission, SFA Director, Sven Spollen-Behrens said, "Ireland’s competitiveness is under threat. Government must ensure that the mistakes of the past are not repeated by allowing business costs to become unsustainable in a period of economic growth. At a time when positivity among small businesses is at its lowest since the immediate aftermath of the Brexit vote, it is vital that no measures that impose additional costs on small companies are introduced."

Source: www.businessworld.ie