Press release
Minister McGrath launches public consultation on share-based remuneration in Ireland
Published on
Last updated on
Published on
Last updated on
The Minister for Finance Michael McGrath has launched a public consultation seeking stakeholder views on the taxation of share-based remuneration in Ireland.
Commenting on the launch Minister McGrath stated:
“Today I am delighted to launch a public consultation on share-based remuneration. As I announced in my recent Budget speech this consultation will form part of a wider review that will be commenced shortly.
"I believe that it is essential that this comprehensive review be undertaken to ensure that our policies around share-based remuneration continue to support Irish companies in attracting and retaining highly skilled and motivated employees, which in turn helps to ensure that Irish enterprises have the necessary tools to grow and expand, and consequently to support Ireland’s economic growth.
"This consultation provides stakeholders the opportunity to share their views and experiences, and to ensure their voice is an integral part of the review process. I would strongly encourage all stakeholders to participate in the consultation process.”
The department’s online consultation portal is now open to allow all stakeholders to submit their views on how Ireland’s share-based remuneration environment is operating for all users, how its use can support economic activity, and how to ensure we continue to meet international best practice standards. The judicious use of Exchequer resources continues to be a key consideration for the Minister and the department. Respondents should reflect on potential impacts of suggested changes to the current regime, and provide analysis of the Exchequer cost/yield of their suggestions or proposals.
The public consultation period will run until 22 January 2024. The responses to the public consultation will feed into the overall review of the taxation of share-based remuneration and the Irish share scheme environment which will be undertaken over the coming months. The review will also examine the recommendations from the Commission on Taxation and Welfare in relation to share-based remuneration.