Author: Practicenet

THE new president of the Irish Tax Institute has lashed out at Revenue, saying businesses have been facing big delays in getting clarifications on important tax questions. Marie Bradley said some businesses are waiting three to six months for answers on technical questions. This, she said, leaves “many businesses in the dark about their decisions […]

Regulators at the Central Bank have ordered managers of Irish-domiciled mutual funds to review fees charged to investors, after uncovering evidence of possible overcharging. The Central Bank of Ireland’s Director General Financial Conduct, Derville Rowland, said the regulator is concerned that guidance on how fees are levelled is not being applied in a consistent and […]

Thousands of families are set to be hit with huge tax bills when they inherit homes and other assets this year. And many are in for a shock, as half of people mistakenly believe their family home is exempt from inheritance tax. It comes as Revenue figures show the money paid in inheritance tax has […]

European firms aren’t alone in their Brexit pain – Pfizer, the US-based drug behemoth, says its costs for dealing with the upcoming split will reach $100m (€86.4m). The UK’s looming rupture with the EU threatens to slow goods at borders and force firms to duplicate regulatory efforts. Pfizer said its costs stem from transferring product […]

Manufacturing output has risen to a seven month high driven by sharp increases in output and new orders. The headline PMI in August was 57.5, from 56.3 in July. Any reading over 50 is deemed growth. New order growth quickened to the fastest in the year so far, with strong demand reported from both domestic […]

Cork-based motor group Johnson & Perrott is to open the first phase of a €15m dealership cluster at Bishopstown in Cork today. The overall project will deliver 50 jobs. “Our dealership in Bishopstown is the largest purpose-built new facility for Jaguar and Land Rover in the country and is a key step in positioning Johnson […]

Banks have moved to make it easier for consumers to cancel unwanted subscriptions. The changes are likely to come as a huge relief as many companies make it very difficult for customers who have signed up for services, such as gym memberships and TV and online streaming services, to get out of their contract. Research […]

Large numbers of smaller firms have admitted they are not prepared for changes in how payroll systems interact with Revenue that are due to come into force in January. An overhaul of the Pay As You Earn (PAYE) system is due to come into effect in five months. But 40pc of firms are not prepared […]

European shares fell back yesterday as weakness in Chinese markets and worries over a trade dispute between the United States and China eclipsed optimism that a Nafta deal could be struck by today’s deadline. The pan-European STOXX 600 ended the session down 0.3pc, while Germany’s DAX, which is sensitive to China due to its prominence […]

Internet domain registry business Afilias has moved its headquarters out of Dublin to the US, citing recent US tax changes as a reason for the move. It’s a sign that Donald Trump’s efforts to attract business home are having an impact. “We’ve long had a strong US presence,” said CEO Hal Lubsen. “More of the […]