Capital gains tax policy dubbed ‘worst in world’

The Government must and will act to bring our capital gains tax (CGT) policy — which is one of the worst in the world — more in line with that of "civilised countries", according to one of the country’s most successful businessmen.

Seán O’Sullivan previously appeared on RTÉ’s Dragons’ Den and chaired the Entrepreneurship Forum. Its report formed the basis of the Government’s Entrepreneurship Plan unveiled earlier this week, which said that Irish policy was severely out of kilter with other developed economies.

The current tax regime is prohibitive to establishing new businesses and to raising capital for start-ups, Mr O’Sullivan explained.