Saturday January 25, 2020

High capital gains tax rate blamed for medtech start-up sector losing funding

Ireland’s medtech sector is losing funding from its start-up scene as entrepreneurs are channeling their investment abroad, an industry body has warned

Killian Woods

Business reporter

@killianwoods
20th October, 2019
Sinead Keogh, director of the Irish MedTech Association: ‘We’re seeing a lot more entrepreneurs looking at international investments’ Fergal Phillips

Ireland’s medtech sector is losing funding from its start-up scene as entrepreneurs are channeling their investment abroad, an industry body has warned. The Irish Medtech Association has cited the state’s capital gains tax (CGT) rate of 33 per cent as one of the key issues faced by the sector.

CGT is payable on the profits after an asset is disposed of. Ireland’s rate is one of highest in western Europe and cited...

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