DUBLIN: The Small Firms Association has called on the Government to return capital gains tax to the 20 per cent rate that was levied on profits from asset sales before the financial crisis.
“The tax system has a vital role to play in supporting development at each stage of the life cycle of a small business. The capital gains tax regime is in need of an overhaul to boost investment,” said AJ Noonan, chairman of the SFA, as the lobby group launched its pre-Budget submission.
“Practice over the last 20 years has shown that when the CGT rate drops, the exchequer benefits due to a surge in activity, so this is a clear win-win,” said Mr Noonan.
