Brexit could deliver massive shock to Irish SMEs, warns Finance

Brexit could deliver massive shock to Irish SMEs, warns Finance

The Department flags the fact that costs and barriers to trade for small business will mushroom

The Department of Finance has warned that Brexit risks delivering a major administrative and financial shock to thousands of Irish small businesses, crippling vital tax revenues and multiplying opportunities for Vat fraudsters.

The return of duty-free shopping between Britain and Ireland “would significantly impact on indirect tax revenues”, while backlogs would cause “significant delays” on borders, with some customs workloads multiplying tenfold.

The dire warnings are contained in the Department of Finance Tax Strategy Group...

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