SINN Féin MLA Bronwyn McGahan and Councillor Dominic Molloy have met with Eddie McCaskie of the Federation of Small Businesses to discuss how matters relating to the Dungannon area.
Councillor Molloy stated: “We held a very constructive meeting in learning how the role of the Federation has been working to protect small businesses during the recession and the benefits of joining the Federation.
“Given the recent downtown in the construction industry it was interesting to hear that the Federation is currently lobbying for a 5% reduction in VAT for the construction industry. If successful this would go some way in protecting the smaller contractors and businesses within that sector.
Ms McGahan added: “I am particularly concerned to hear from Mr McCaskie that the British Government is setting up a new taskforce through the HRMC to put a particular focus on the tax returns on hair and beauty businesses here in the North. These tax investigations could cost anywhere between £2000 and £5000 and this is just accountancy fees alone.
“Given the fact that it was recently announced that major multi nationals such as Starbucks, Amazon and Google are paying little or no tax whatsoever I think this approach British Tory Government will put many small businesses in the beauty sector to the wall.”