EU court ruling on Belgian tax breaks may affect Apple case
Europe’s second-highest court will rule tomorrow whether a Belgian tax break which benefited some 35 large companies is illegal state aid, a judgment which could provide clues to other tax cases involving Apple, Starbucks and Fiat Chrysler. As part of its crackdown on tax avoidance, the European Commission three years ago ordered Belgium to recover […]
Anger as credit unions move to lower insurance death benefits
Credit union members have reacted angrily to moves by a number of the lenders to reduce a key insurance benefit. Most credit unions offer death benefit insurance and share insurance. These provide a payment when the member dies, at no cost to the members. But the high cost of providing the cover has seen credit […]
No deal Brexit would see consumer prices rise – retail group
The imposition of tariffs in the event of a no-deal Brexit will inevitably see consumer prices rising here, according to Retail Ireland. Thomas Burke, director of the Ibec retail industry group, said the imposition of tariffs of up to 30 or 40% on some products couldn’t be absorbed by the retail industry. The sector, he […]
Soft Brexit may be ‘blessing in disguise’ to halt overheating risk
How Irish policymakers manage the fall-out from Brexit – regardless of the form it takes – will be important for assessing Irish credit fundamentals into the future, according to Canadian credit rating agency DBRS. How effectively authorities use fiscal and macro-prudential policy tools to manage the eventual Brexit outcome are an important test in terms […]
Sterling drops after UK GDP data confirms slowdown
Sterling extended its fall today after data showed that Britain’s economy last year grew at its slowest since 2012, with Brexit uncertainty hitting investment. The quarterly GDP numbers followed other data in recent weeks that paint a picture of a UK economy slowing into 2019 as businesses and consumers grow increasingly nervous about Britain’s departure […]
EU should hand back tax payments it would receive on Irish imports if there’s a ‘no deal’ Brexit – warning
The EU should hand back tax payments it would receive on Irish imports from the UK if there’s a no deal Brexit, a leading accountants’ group has warned. If there’s no deal the EU will get 80pc of the VAT paid by Irish firms on UK imports under WTO rules, the Association of Chartered Certified […]
More than half of Irish SMEs have yet to plan for Brexit – survey
With just 46 days left until the UK is due to leave the EU, a new survey in Ireland has found that more than half of small and medium-sized enterprises (SMEs) have yet to begin Brexit planning. The AIB Brexit Sentiment Index also found that the Irish tourism industry is the one already feeling the […]
More than half of Irish SMEs have yet to plan for Brexit – survey
With just 46 days left until the UK is due to leave the EU, a new survey in Ireland has found that more than half of small and medium-sized enterprises (SMEs) have yet to begin Brexit planning. The AIB Brexit Sentiment Index also found that the Irish tourism industry is the one already feeling the […]
Live register numbers hit almost 11 year low – the lowest level since April 2008
The number of people on the live register decreased 1.6pc in January to 200,300. This is the lowest number recorded in the seasonally adjusted series since April 2008. According to the latest figures from the Central Statistics Office (CSO), in unadjusted terms, there were 199,627 persons signing on last month. This represents an annual drop […]
Ireland’s growth forecast cut as ‘economic outlook remains clouded by uncertainty’
The European Commission has revised downwards its GDP forecast for Ireland as our “economic outlook remains clouded by uncertainty”. In its quarterly economic forecasts, the EU executive said that domestic economy is expected to expand at an average rate of 4pc this year and next. The Commission cited “robust employment developments, stronger wage growth and […]