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OSK Tax Accountants Dublin report that the minister for Social Protection has announced that all “share based remuneration received after 1 January 2012 will be subject to employee PRSI (with the exception of shares held in Employee Share Ownership Trusts before 1 January 2011). This statement comes shortly after the statement issued on 18 March “excluding from a charge to employee (and employer) PRSI share based remuneration subject to a written agreement, entered into before the 1 January 2011”.
This change of mind sends damaging signals about the overall certainty in tax policy in Ireland. It is imperative that solid reassurance is given to investors in Ireland to invest and create jobs. Decisions regarding investment and job creation are based on certainty. The uncertainty surrounding this decision is damaging to our international image, it increases the cost s of employment and is a reversal of previous commitments to investors in Ireland.
Niall Dempsey is Director - OSK Tax Accountants Dublin.
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