IBEC wants PRSI extension to BIK postponed

Business and employers' organisation IBEC has called on the Government to postpone for a year the extension of PRSI to benefit-in-kind saying the timing was all wrong.

Business and employers' organisation IBEC has called on the Government to postpone for a year the extension of PRSI to benefit-in-kind saying the timing was all wrong.

Its Director of Economic Affairs, Brian Geoghegan, said that many businesses would find it very difficult to implement these new measures by January 2004.

Speaking today, Geoghan said : "Competitiveness is under pressure and such additional taxes on employment will do nothing to aid the economic recovery.

"The timing is wrong," he added.

Earlier, IBEC had welcomed Charlie McCreevy's decision to exempt company vans from any PRSI and PAYE benefit-in-kind charges.

Geoghegan said he had detailed discussions with the Department of Finance on the issue since the draft guidelines were published and said he believed the decision was the correct one.

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