Contributing Firms:
Our focus on Budget 2027 highlights some of the key issues and options to be considered as part of the overall €8.5 billion Budget package including targeted tax reliefs and changes to boost the housing market, support SMEs, entrepreneurship and encourage greater investment as well as cutting the compliance and administrative burden by streamlining rules and requirements and following through on improvements in areas such as R&D and tax on investments.
Budget 2027 is the focus the roundtable with the panel of experts highlighting major issues, changes and refinements to be considered ahead of the Budget. In the area of Corporation Tax suggested measures include changes to Ireland’s interest deductibility provisions. To support private business and entrepreneurship a reduction in the Capital Gains Tax rate and enhancements to the Entrepreneur and Angel Investor Reliefs is put forward while on the housing front targeted stamp duty relief to encourage downsizing and balanced reform of taxation on rental income to support long-term investment could be considered. On the administration side consideration should be given to the simplification of the CT1 form, as well giving groups the option to file a single consolidated CT1. The removal of the eight-year deemed disposal regime, a revamp of Entrepreneurial Relief, updating the Employment Investment Incentive and a targeted reform of Ireland’s R&D Tax Credit also feature.
What are the main points from your firm's pre-budget observations on Corporate Taxation?
What are the main points from your firm's pre-budget observations on SMEs/Private Business?
What are the main points from your firm's pre-budget observations on Housing?
What are the main points from your firm's pre-budget observations on Tax Administration?
What are the main points from your firm's pre-budget observations on Entrepreneurial Relief?
What are the main points from your firm's pre-budget observations on FDI & Financial Services?
What are the main points from your firm's pre-budget observations on Employment Investment Incentive (EII)?
The Department of Finance’s consultation on the R&D Tax Credit saw stakeholders highlight a number of areas in which Ireland's R&D Tax Credit framework can be enhanced, including suggestions around outsourcing, the expansion of definitions and an increase in the rate of the credit. What changes do you suggest should be made in Budget 2027 to strengthen Ireland's standing as a global hub for innovation?
The 2002 Finance Act introduced a payment of preliminary Corporation Tax with a two-tier small/large preliminary tax system introduced in October 2008 but the current rules have created difficulties in estimating current year tax liabilities before year end, and the risk of penalties. BDO’s Angela Fleming analyses the PT challenges that corporates currently face and suggests a number of changes to make the system more user-friendly and equitable for corporates.
Budget 2027 Focus: What are the main points from your firm's pre-budget observations? Please respond under any/all of the below headings - A) Corporate taxation B) SMEs/Private Business C) Housing D) Tax Administration E) Entrepreneurial Relief F) FDI & Financial Services G) Other pre Budget observation
Budget 2027 and the R&D Tax Credit: The Department of Finance’s consultation on the R&D Tax Credit saw stakeholders highlight a number of areas in which Ireland's R&D Tax Credit framework can be enhanced, including suggestions around outsourcing, the expansion of definitions and an increase in the rate of the credit. What changes do you suggest should be made in Budget 2027 to strengthen Ireland's standing as a global hub for innovation?