Tom Maguire: A fair share for entrepreneurs and employees will profit us all

We need to tweak taxes to encourage entrepreneurs to locate here, and to allow our homegrown SMEs to thrive

The SME tax system should be amended not only to facilitate start-ups, but also to incentivise entrepreneurs to remain and scale up their businesses. Picture: Getty

The closing date for responses to the Commission on Taxation and Welfare has now passed. No doubt various submissions have been made by numerous stakeholders about how to make our tax and welfare environment a better place.

On the corporate side, here is my take on some of the changes that could be made.

In Ireland, a tax deduction is given (terms and conditions apply) for interest on borrowings, but our interest deductibility rules are ...