Last week, the Institute, under the auspices of the CCAB-I, responded to the public consultation on Ireland’s taxation of share-based remuneration. In our response, we recommend maintaining the exemption from employers’ PRSI on share-based remuneration and legislating for a tax deferral on the exercise of share options.
Other key messages in our response include the requirement for:
- Further enhancements to the KEEP scheme to make it more attractive and improve uptake.
- Appropriate legislation to enable employees’ benefit from Employee Share Ownership Trusts as a business succession tool.
- The introduction of an appropriate safe harbour in relation to the valuation of shares in unquoted companies.
- A move from a pre-approval process for Revenue approved share schemes to a pre-notification process.