Businesses to have their say on future tax policy – Twomey

Fine Gael TD for Wexford and Chairman of the Oireachtas Finance Committee, Liam Twomey, said today (Friday) the Minister for Finance, Michael Noonan, is to begin a public consultation on the tax barriers facing small business and entrepreneurs. The tax treatment of small businesses and the self-employed is one of the key concerns highlighted during Fine Gael’s Standing up for Small Business campaign.

“Every member of the Fine Gael parliamentary party has been meeting the small business community across Ireland over the last few months as part of Fine Gael’s Standing Up for Small Business campaign. 

“What is clear is that businesses feel their contribution to the economy is not fully recognised. In particular small businesses and the self-employed feel the discrepancy between the tax treatment of the employed and self-employed is unfair.

“Today the Minister for Finance, Michael Noonan announced a public consultation on tax barriers faced by small businesses and entrepreneurs. Details will be available on the Department of Finance website from next Tuesday.

“Minister Noonan also reiterated his commitment to start the process of reducing the gap between PAYE employees and the self- employed that arises primarily as a result of the PAYE tax credit. The gap was increased dramatically by the previous Government and is no longer justified. This is one of the key findings of the national conversation Fine Gael has been having with small businesses.

“Fine Gael is the party of small business. To achieve full employment by 2018, we need small businesses to reach their full potential to allow us to achieve this goal. We want to help small business take advantage of the opportunities offered by the economic recovery that is beginning to take hold.”