Revenue has published the report of the Tax Administration Liaison Committee (TALC) sub-committee on Administrative Simplification of Business Reliefs for small and medium enterprises (SMEs). The subgroup, made up of representatives from Revenue, the CCAB-I, the Irish Taxation Institute and the Law Society, was established on the direction of the Minister for Finance to “identify any opportunities to simplify and modernise the administration of business supports”. Other business groups representative of Irish SMEs also contributed with a view to identifying perceived administrative issues and obstacles that deter SMEs from availing of business reliefs.
The Institute, under the auspices of the CCAB-I, made representations on behalf of members at each of the monthly meetings of the sub-committee held between January and June 2024, The group examined the business tax reliefs that are available to SMEs throughout the life cycle of the business. Written feedback on the simplification of business tax reliefs provided by the CCAB-I is included in the report. Although the sub-committee could not make recommendations regarding legislative matters, practitioners’ policy proposals have been included in Appendix B of the report.
The report was endorsed by Main TALC on 27 June and has been presented to the Board of the Revenue Commissioners and to the Minister for Finance. Revenue will be prioritising implementation of the agreed recommendations over the coming months with some of the recommendations already progressing.
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