Minister Donohue announced in his Budget speech that he intended to bring forward a “priority package of measures” in the Finance Bill in relation to EII and SURE.
In fact, the Finance Bill has provided for a complete amendment/substitution of the legislative part governing these reliefs and it accounts for close to a third of the content within the Bill. Earlier this year, Indecon Economic Consultants were commissioned to carry out a review of EII and SURE and the amendments have been largely driven by their report, which was published in September 2018. The focus is also to simplify the legislative framework, which has been generally viewed as onerous and largely impacting on the effectiveness of the relief.
Whilst there is likely to be a good degree of ‘devil in the detail’ once all aspect of the legislation have been examined in detail, some of the key points to note regarding the amendments made are summarised below:
We intend to follow up with a more detailed publication on EII/SURE in due course once the details of the legislative have been evaluated.
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