THE Department of Finance has launched a public consultation on business rates in Northern Ireland.
Launching the consultation at the Institute of Revenues Rating and Valuation conference in Belfast, Permanent Secretary Sue Gray said: “Back in May I announced the Department’s intention to undertake a full and comprehensive review of business rates.
“Since then my Department has been working with a wide range of stakeholders including experts in urban regeneration, taxation and the high street to help inform the scope of this review and the consultation document which we are launching today.
“This Review is about looking at the current position and making recommendations to ensure that our business rates system is effective and fair while raising the funds needed to support Northern Ireland’s key services.
“The business rates system, together with its suite of support measures, needs to be positioned to respond to changing marketplaces and local economic conditions.
“What we need now is for business ratepayers, business and trade organisations, local government and all interested parties to engage with us and put forward their perspectives, ideas and opinions.”
The Business Rates Review Team will be attending a series of events organised by councils, chambers of commerce and other organisations across Northern Ireland as part of the public consultation process which runs until 11 November.
Each year Land & Property Services collects over £1.34 billion of rates which helps fund vital public services.
Business Rates contributes over £655million to the overall rates income.
The consultation document can be viewed at: