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Dublin: 7 °C Monday 20 January, 2020

Small firms want to be "back on a level playing field"

Chambers Ireland says it wants a reduction of marginal tax rates.

Image: Sam Boal/Photocall Ireland

THE SMALL FIRMS Association wants the lower rate Employer’s PRSI reinstated in the Budget this year.

The SFA says that they want “self-employed risk-takers back on a level playing-field with PAYE workers”.

In their pre-Budget submission “The Path to Growth”, the SFA says they want the 3% surcharge on USC for the self-employed removed and a tax credit for directors of small firms.

SFA chairman AJ Noonan says the moves would support job creation.

“It is critical that there is at least equity in treatment between employees and self-employed people in the tax system and that risk takers are afforded an equal level of protection as their employees in the event of business failure or illness.

“It is critical that the Government reduces the marginal rate of tax, extends the entry point to the marginal rate and drops the pension levy in Budget 2015.”

Chambers Ireland also released their pre-Budget submission, with chief executive Ian Talbot saying the Budget should extend the recovery to the rest of the country.

“It is vital that no new taxes are introduced in Budget 2015. Certain taxes, such as marginal tax rates and Capital Gains Tax, should be reduced to incentivise investment, lessen the cost of employment and encourage job creation.”

Chambers Ireland want an abolition of Capital Gains Tax on rezoned land, a reduction in marginal tax rates, a reintroduction of the lower PRSI rate and the protection of the 9% VAT rate in the hospitality sector.

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