This week Chartered Accountants Ireland represented members in attending the Cost of Business Advisory Forum run by the Department of Enterprise, Tourism and Employment. The meeting follows the Institute’s submission recently where the focus was on reporting and compliance burdens that have been placed on businesses.
The meeting forms part of the Institute’s ongoing campaign to remove the real time reporting obligation under Revenue’s Enhanced Reporting Requirements. From the outset and in response to our engagement with members on this matter, the Institute has been very clear that this obligation has placed a significant burden on businesses and employers and should be removed.
The Institute once again argued that to date no reason has been offered as to why non-taxable items needed to be reported in real time. There has never been an adequate analysis on the benefits in terms of receiving this information in real time versus the compliance burden placed on businesses.
The Institute will continue to campaign for the removal of the real time reporting element of the Enhanced Reporting Requirements.
On the wider issue of simplification, the Institute argued that there was a need for a cross-Government approach in Ireland to reduce complexity and the regulatory burden on businesses and that this requires political will.
The Enhanced SME test is designed to sense check every proposal coming from Government to see if it is placing an undue and disproportionate burden on SMEs. Yet there is concern that this test is not being applied and the Institute outlined some key examples where this has been the case.
From a European perspective, the Institute urged the Government to get behind the European Commission’s simplification agenda and to use its Presidency of the Council of the European Union to advance important files like the Digital Omnibus, the Tax Omnibus, the Savings and Investment Union and the 28th Regime.
Following this meeting, the Institute will continue to contribute to the Forum with the aim of completing a comprehensive report on business costs with important and achievable recommendations for Government.
Previous representations on this matter include:
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