Contact: Brian Bell
WHPR
+353 (0) 87 2436130

Contact: Claire Quinn
Deloitte
PR Executive
+353 87 6825766

The Minister for Finance has missed out on the opportunity to reshape the Business Expansion Scheme for small enterprises, according to Pat Cullen, National Tax Partner, Deloitte.

“The increase in the company BES limit to €2 million, or a maximum of €1.5 million in a twelve-month period, is insufficient to restore the BES system to its former status as a major incentive to the entrepreneurial spirit which exists in small Irish companies,” Mr. Cullen said.

“The new maximum threshold of €2 million for the BES still lags well behind the thresholds which were attached to these schemes when they were originally launched in the mid-1980s. While the personal limits for BES investment were substantially increased in today’s Budget, the increase in the company BES limit falls well short of what might have been expected. For the scheme to be meaningful, an increase in the cap to €25 million, which would allow companies to make the investments required to enable them to develop and allow them to compete internationally would have been more appropriate,” Mr. Cullen added.

About Deloitte

Deloitte Ireland is a world-class firm of expert business advisers, serving senior business leaders who are seeking to protect and create value in a complex, dynamic environment. Our objective is to help our clients succeed by anticipating tomorrow’s agenda with focused, insightful and fresh thinking borne out of our multidisciplinary strengths. We draw upon our specialist skills in audit, tax, consulting and financial advisory both within Ireland and across the Deloitte worldwide network. 

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