ICAI: Business Expansion Scheme must continue

The Institute of Chartered Accountants in Ireland (ICAI) said that it believed that the tax findings of today’s Forfás survey on Finance and Equity for Small to Medium Enterprises proved the case for the continuation of the Business Expansion Scheme by Minister Cowen on Budget day.

"The Business Expansion Scheme, which rewards investment in Small and Medium Enterprises through granting income tax relief to the investors, is a key supplier of finance to emerging Irish industries," the ICAI said in a statement.