Resolutions due as black economy costs €5bn a year

The Government will be presented with a series of policy recommendations regarding the black economy, which is denying the State an estimated €5bn tax take per year, within the next six months.

After listening to proposals from the Small Firms Association and Isme, the chairman of the Joint Oireachtas Committee on Jobs, Enterprise and Innovation, Fine Gael’s Damien English, said the committee hoped to have a report ready for Government by the end of October. The report will be based on feedback received from public hearings and industry bodies such as Isme, the SFA, RGData, and Retail Ireland.

“The impact of the black market on small business is an issue of concern for the committee and one to which we are devoting a lot of time and attention,” said Mr English.