Group calls for changes in tax laws to aid businesses

INTEREST rate penalties imposed by the Revenue Commissioners should be the same as prevailing market rates the Irish Taxation Institute told the Joint Oireachtas Committee for Economic Regulatory Affairs.

Institute President Andrew Cullen said new practical tax administration measures which give real encouragement and help to entrepreneurial activity have never been so critical for Ireland.

Mr Cullen made his comments following consultation with AITI Registered Tax Consultant members, the completion of an extensive survey amongst 500 Irish businesses and the completion of international research.