Monday 23 April 2018

Tax rates 'an impediment to entrepreneurs'

Barry O'Leary,CEO of the IDA
Barry O'Leary,CEO of the IDA
Colm Kelpie

Colm Kelpie

IRELAND's tax rates are an impediment to entrepreneurship and business start-ups, the Small Firms Association (SFA) has warned.

It said Ireland had one of the highest marginal tax rates in the countries that make up the OECD.

It said that the marginal tax rate of 55pc for self-employed people at average earnings was well above the OECD average of 36pc.

The comments echo the remarks made by IDA boss Barry O'Leary earlier this month, when he said income tax rates had got to the level where there shouldn't be any more increases.

SFA chairman AJ Noonan said that despite the impact on the sector in the years since 2008, there were still 200,000 small firms in Ireland, employing 655,000 people and 13,000 new businesses being set up each year.

Irish Independent

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