The Vintners’ Federation of Ireland (VFI) welcomes the Government’s decision in Budget 2016 to narrow the gap in tax credits between the self-employed and PAYE workers.
As it stands, publicans, and other self-employed small business owners, are not entitled to the PAYE tax credit of €1,650.
The phasing in of the PAYE tax credit for publicans and other small businesses is clear recognition of the contribution these businesses make to the Irish economy.
For years, the VFI has been calling for more equality for the self-employed as for too long they have been left out in the cold. We believe that publicans and other small business owners are at a significant disadvantage compared to other sectors when it comes to state supports.
Today’s decision should however have a positive impact on publicans across Ireland and we commend the Government for taking appropriate action.
We equally welcome the measures around the reduction in capital gains tax for entrepreneurs and the release for micro-breweries.
The VFI is however disappointed that the current level of excise duty has not been reduced in Budget 2016.
We view this as a missed opportunity by the Government as Ireland still has excise levels that are a multiple of most other European countries.