Taxation Institute wants balance between compliance and red tape

The Irish Taxation Institute says a balance needs to be struck when it comes to tax compliance for small businesses.

It is appearing before an Oireachtas Committee later to discuss the effect red tape has on the SME sector.

However, chief executive Mark Redmond said light-touch regulation was not the answer either. He said it was important to find a balance "between ensuring that business remains compliant…We don't want to see any further ground gained by the black economy - and ensuring that business can get on and do what it does best".