As part of a review of tax relief the Irish Government has launched public consultations on certain tax relief. The reviews of these tax breaks are to be completed by May 2014 and the findings of the reviews will be taken into consideration by the Irish government when they are preparing the next budget.
A single consultation is to be held in respect of the first two favorable tax regimes which are the Employment and Investment Incentive (EII) and the Seed Capital Scheme (SCS) The Irish government is looking for comments on how the schemes are operating in practice and how their operation could be improved.
There are separate consultations on two other reliefs known as the Special Assignee Relief Programme (SARP) and Foreign Earnings Deduction (FED). These reliefs were introduced in 2012 for three years and they are therefore due to come to an end on 31 December 2014. The Government is looking for opinions on whether these tax reliefs could be continued for a longer period of time and on any ways in which they could be improved.
The consultations on these four tax reliefs are to continue until May 9, 2014. The Irish Finance Minister is to look at the results of the consultations and introduce any changes in the budget for 2015.
