Several hundred action points are listed, covering most branches of government and administration. As might be expected, tax measures feature.

Many of the tax ideas are already in train to some extent. The cost benefit analysis in the area of Agricultural Taxation is reflected in the public consultation currently underway and to which Chartered Accountants Ireland has responded (see here). Consultations on the Employment and Investment Incentive, the Seed Capital Scheme, the Special Assignee Relief Programme and the Foreign Earnings Deduction were launched earlier this month. Others are already in place - the 9% rate of VAT for the hospitality sector and increasing the cash receipts threshold to €2m.

A review of some existing tax incentives is promised. The Foreign Earnings Deduction is to be critically analysed, as is the Special Assignee Relief Program. Both are subject to conditions which are too restrictive.

The main tax action points include:

Action 2 Review and consider further amendments to the Start Your Own Business (SYOB) initiative during 2014.

Action 3 Review and consider further amendments to the Employment Investment Incentive (EII) during 2014.

Action 4 Review and consider further amendments to the Seed Capital Scheme (SCS) during 2014.

Action 103 Critically analyse the Foreign Earnings Deduction (FED) with a view to adapting it if necessary to encourage SMEs to expand into new foreign markets.

Action 258 Undertake a critical analysis of the Special Assignee Relief Programme in 2014 with a view to adapting it if necessary.

Action 288 Undertake an independent cost benefit analysis in the area of Agri-Taxation with a view to ensuring maximum benefit to the sector and to the wider economy and bringing forward recommendations for Budget 2015.

Action 329 Publicise the Home Renovation Incentive (HRI) Scheme, to assist with encouraging take up of the scheme, providing stimulus for the construction sector.

Action 330 Submit an application seeking EU State Aid approval for the Living City Initiative for residential properties constructed prior to 1915 in Ireland’s six cities namely Limerick, Waterford, Cork, Galway, Kilkenny and Dublin, to facilitate a Commencement Order being made by the end of the year.

Action 335 As announced in Budget 2014, continue the 9% VAT rate on tourism related services and goods to support the tourism sector.

Action 344 Increase the annual cash receipts basis threshold for payment of VAT by businesses from €1.25 million to €2 million. This will assist retail suppliers in the areas of cash flow and reduced administration.

Action 349 Extend the ‘Living Cities’ initiative to Cork, Galway, Kilkenny and Dublin to assist the regeneration of retail and commercial districts. Retailers will be entitled to relief on certain works undertaken to upgrade or refit their shops over a period of seven years at a rate of 15% for the first 6 years and 10% for the final year. The scheme will also attract more families to live in previously run-down areas which will in turn provide benefits to local traders. This Initiative is subject to EU State Aid approval and a commencement order.

The complete Action Plan is available at http://www.djei.ie/publications/2014APJ.pdf