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SFA calls for cut in capital gains

The Small Firms Association (SFA) has called for a cut in capital gains tax as part of next week’s Budget.

At a meeting with Minister Simon Harris, TD in Leinster House, Director of the Small Firms Association, Patricia Callan, stated that “small businesses around the country are effectively being prohibited from tendering for public contracts, in the move to centralise government procurement into large-scale contracts that they are ineligible to apply for.”

The body said the rate should drop to 10% for entrepreneurs selling businesses, which would bring it in line with Britain’s levy. It also wants the general GCT rate to fall to 20%.

In 2013, the published data suggests that 28% of tenders are being awarded to countries outside of Ireland, up from a previous high of 18% recorded. Ireland frequently tops the list of countries most likely to award to non-national countries and this trend is increasing all the time.

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