Among the most important changes from a business perspective are:

- The relief available to certain newly incorporated companies that was introduced in Finance Act 2009 has been extended to companies incorporated in 2010. Broadly provided certain conditions are met this relief exempts a new company carrying on a new business from corporation tax for the each of the first 3 years of its existence ifthe corporation tax liability is less than €40,000 per annum. 

- Changes have been made to increase the attractiveness of Ireland as a location to do business. Losses made by a foreign branch can now be carried forward and offset against taxable profits made in future years. Dividends received from trading subsidiaries resident in non-Treaty countries may now qualify for the 12.5% corporation tax rate.

- The Accelerated Capital Allowances regime applicable to certain energy efficient equipment has been extended to cover additional categories of equipment, namely Refrigeration & cooling equipment, Electro-mechanical systems and Catering & holiday equipment.

- Of interest to owner-managers considering retiring from their business is the provision that confirms that CGT Retirement Relief can be availed of where a company buys back its own shares where such a buyback qualifies for CGT treatment. In practice it has long been assumed that this was the case but it is now confirmed in the Finance Act.