Author: splash

2021 saw an “exponential growth” in the number of customs declarations, according to headline results published by Revenue today. New EU VAT rules, which came into effect in July, and an increase in e-commerce which began during the pandemic saw a fourteen-fold increase in declarations. Revenue reported that 25.4 million customs declarations were processed in […]

The deficit in the state finances has fallen to as low as 2% of GDP for 2021, which would make it one of the smallest deficits in the OECD, according to Davy. The stockbroker’s chief economist Conall MacCoille bases his calculations on expectations that the general government deficit will come in just under €9 billion, […]

Minister for Foreign Affairs Simon Coveney will meet British Foreign Secretary Liz Truss in London this evening. It will be the first opportunity for the ministers to meet in person since Ms Truss took over Brexit responsibilities, as well as the Foreign Secretary role. The two have already held a long virtual meeting, which included […]

The Department of Finance has recorded the highest ever tax take of €68.4 billion, pushing the Exchequer deficit down to €7.3 billion. According to the latest Exchequer figures, tax receipts were up by €11.2 billion (19.7%) on 2020. This was the highest ever tax yield, over €9 billion ahead of the previous highest yield reached […]

The Central Bank has today published a revised simplified Standard Financial Statement to assist borrowers in financial distress after a review. The SFS is used by banks and lenders to gather information from distressed borrowers on their current financial situation. Once it is completed, the lender can assess whether it can offer a borrower an […]

New car registrations for 2021 were up 19%, according to statistics published by the Society of the Irish Motor Industry. Total new car registrations for 2021 finished at 104,932. Registrations were down 10.4% on 2019 figures. New Light Commercial Vehicle registrations in 2021 saw an increase of 32.3% compared to 2020. They were also 13.4% […]

Growth in the country’s service sector slowed sharply for the second successive month in December as firms reported that a rising wave of Covid-19 infections was dampening demand, a survey found today. The AIB IHS Markit Purchasing Managers’ Index (PMI) dropped to 55.4 from 59.3 in November and 63.4 in October. The index hit a […]

The Irish advertising market recovered strongly in 2021 from the pandemic hit to spending in the previous year, according to a report from media investment company, GroupM Ireland. The report captures growth of 20% in the advertising market last year following a decline of 6% in 2020 due to the effects of the onset of […]

Asking prices for property rose by almost 10% in 2021, according to an analysis by the property listings website, myhome.ie. Asking price inflation came in at 7.4% in the capital, but at 10.6% elsewhere around the country. Quarterly prices also rose by 1.3% nationally in the final three months of the year with Dublin asking […]

The introduction of minimum pricing on alcohol in Ireland came into force today. The new law will largely affect alcohol sold in off-licences, shops, and supermarkets. A broad breakdown of the new measures shows a standard bottle of wine cannot be sold for less than €7.40 and a can of beer for less than €1.70. […]