Chambers ask for income tax details

The waiting period before the budget announcement is impeding both business and consumer sentiment, says Chambers Ireland, as it calls for immediate access to personal income tax changes.

Chambers Ireland, which represents 13,000 Irish businesses, said today that if significant changes are to apply to levies and other taxes, then businesses should be informed now.

Chief executive Ian Talbot said it is unreasonable to expect employers to wait until December 7 to assess and plan for revised payroll processes.

“They need adequate time to test and implement payroll software solutions for these changes in a timely and cost effective manner,” he said.

Commenting on the imminent Budget, Talbot said, “The primary item on the agenda for Government in Budget 2011 must be putting the national finances on a sustainable footing and supporting business and consumer confidence. Accordingly we need information now regarding the impacts of Budget 2011 and its successors on business. One way that this can be achieved is to publish any intended tax changes, including income tax and PRSI/Levies immediately.”

John Forde, chair of Chambers Ireland HR policy council added, “The last thing that businesses who are working hard to stay afloat in these challenging times need is to incur unacceptable costs and risk of error to meet arbitrary deadlines forced upon them by a culture of mystery applied to the budget day process.

“By providing employers and employees with these insights the Government will remove the shock impact of Budget day. This can contribute to a stabilisation of consumer confidence, and in turn, much needed spending,” he concluded.