France tops tax attractiveness index

IRELAND has been knocked off the top spot in a list of the attractiveness of European countries when it comes to tax and the legal environment.

France topped the rankings, which were compiled by the European Private Equity and Venture Capital Association because of the French focus on Young Innovative Companies (YICs).

Director general of the Irish Venture Capital Association Regina Breheny said: “The French allow tax relief for YICs against employee taxes. This is much better than allowing it against profits as many innovative young companies do not make profits in the first few years.”