These revisions aim to encourage equity investment in growing Irish businesses, which have heavily relied on the scheme for funding. However, while tax incentives can attract investors, the new restrictions also pose additional risks to these investments.
New EIIS Rates:
Effective from 1st January 2024, the updated EIIS rates will be as follows:
While the EIIS scheme aims to encourage investment in Irish businesses, the incoming changes may introduce added risks for potential investors. Steve Schwarzman, the founder and chairman of Blackstone, a leading investment firm, recently emphasized the need to incentivize risk capital. He argued that in a low-growth economy, where securing significant returns with minimal loss is challenging, tax incentives play a vital role in motivating investors.
The updated EIIS rates, set to come into effect from January 2024, aim to support Irish businesses in their growth endeavors. However, the tiered relief structure may introduce additional risks for investors. As the scheme evolves, striking a balance between incentivizing investment and mitigating risks will be crucial to maintaining a thriving entrepreneurial ecosystem in Ireland.
“Their culture of innovation, technology and customer service is at the core of what has helped our business to scale.”
Robert Whelan - Rockwell
“Their seamless onboarding process and expertise in Xero made the transition smooth and effortless, allowing me to focus on my business with confidence.”
Padraig Sweeney - Sweeney's D3
Client Company Name