A report by the National Competitiveness Council finds that while prices in Ireland have fallen, the costs of doing business in many areas are still high compared with other countries.
The report highlights property costs, calls from landlines and legal fees as expensive compared with other countries.
It calls for the introduction of a broadly-based residential property tax as soon as possible, while it also urges the Government to look at further measures which could reduce rents for businesses.
The NCC report also calls for the setting up of an independent regulator for the legal profession, and the replacement of the Taxing Master's Office with a new Legal Costs Assessment Office, which would cover costs arising from all courts.
It adds that the practice of paying junior counsel's fees at two-thirds of a senior counsel's should no longer be tolerated.
The report says subsidies for peat-generated electricity should be phased out.
It finds that growth in labour costs has slowed significantly. The NCC also finds that the cost of industrial electricity for large users has dropped to below the euro zone average, but warns that this may be due to temporary factors.
NCC chairman Dr Don Thornhill said costs were moving in the right direction, but many reductions had been due to the economic downturn, and structural reform was needed to make them permanent.
