New bill helps firms raise cash
IRISH companies will find it easier to raise money as a result of new measures introduced by yesterday's Finance Bill, a leading tax expert said last night.
From now on, interest on bonds or IOUs issued by companies will be explicitly exempted from tax when they are bought by foreign investors.
David Smith, tax partner with Ernst & Young, said: "It will basically make it easier for companies to raise debt."
The news will be a welcome boost to Irish companies who have been repeatedly hit by the deterioration of the Irish Government's credit rating since 2008.