Since the British vote to leave the European Union two years ago there has been much talk of the impact on British business and also of the threats and opportunities that it presents to Irish business. If we look beyond the rhetoric however, just how do the two jurisdictions compare for business and how ready is Ireland to meet the challenges that Brexit poses?
In this factsheet we outline the similarities and differences between a range of business and personal taxes. These include:
- Income tax
- Taxation of dividends
- Employee incentive schemes
- Close company rules
- Tax-efficient funding
- Taxes on disposal of business
On examination there are clearly some deficiencies in the Irish tax system as compared to the UK. With the prospect of Brexit looming it is more important than ever for Irish tax policy to focus on addressing these deficiencies and ensure the Irish system regains its competitiveness relative to the UK.
For any additional information or help with any tax-related issues contact a member of our tax team.
