ISME calls for 10% start-up tax

THE ISME wants Finance Minister Charlie McCreevy to stimulate entrepreneurship by cutting tax on start-up business to just 10% and giving 100% tax write-offs on plant and equipment investments.

ISME, the small and medium businesses organisation, in a pre-Budget submission has submitted a detailed shopping list of demands to Mr McCreevy which it believes will result in a massive pay-back to the Government in the years ahead when new businesses enter the mainstream taxation environment.

“In order to promote start-up businesses and stimulate entrepreneurial development, ISME calls for the introduction of a simple 10% tax rate across the board, for those who choose self-employment and double taxation relief for investment in R&D,” the organisation said in its submission.