News

Ireland could benefit from increased flexibility and discretion around the VAT rates it can apply as the European Commission bids to crack down on VAT fraud. As part of a new action plan for VAT reform the Commission is looking to reboot the existing system, which was implemented as a transitional measure in 1993. The […]

Irish house prices are to increase on average by 5pc this year while the country’s gross domestic product (GDP) is also to increase by 5pc, according to Merrion Stockbrokers’ Quarterly Economic Outlook. The report expects an average unemployment rate of 8.3pc in a year where a British exit from the EU (Brexit) remains one of […]

Central Bank’s board queries its response to Banking Inquiry The Commission, or board, that oversees the Central Bank of Ireland is made up mainly of outsiders including the Secretary General of the Department of Finance, Derek Moran, and the former head of the Economic and Social Research Institute (ESRI) John Fitzgerald, along with the bank’s […]

There has been an explosion of Irish companies producing high quality food and drink for Irish and international markets and on this week’s Ready Business show, Brian Purcell spoke to two entrepreneurs who have found success. Gary Lavin, co-founder and Managing Director of VitHit and Brian Lee, founder of Chopped, explained their very different journeys […]

Dublin Airport has confirmed this morning that it will proceed with plans for a new parallel runway – with the project estimated to cost as much as €320m. The DAA, which operates Dublin and Cork airports, said the 3,110-metre long runway is expected to be complete by 2020. The project will support 1,200 jobs during […]

Staff at the Irish units of internet giant Amazon are set to reap a total of almost $50m (€44m) worth of share awards this year and in 2017. The move comes as Jeff Bezos, the founder of the world’s most valuable retailer, this week extolled Amazon as “the best place in the world to fail”. […]

European equities edged higher in early trading on Wednesday after steep declines in the previous session, with energy shares gaining following a bounce back in crude oil prices. The STOXX Europe Oil and Gas index rose 1.2pc, the top sectoral gainer, after crude prices jumped on hopes for an agreement among exporters to freeze output. […]

Finance Minister Michael Noonan will reduce the difference between the Universal Social Charge paid by entrepreneurs and PAYE workers in the next Budget, as well as lowering the overall rate of USC paid by everyone, the Sunday Independent understands. Under the current regime, self-employed people pay 3pc more in USC on earnings over €100,000 than […]

Almost one-in-three earners will end up paying no income tax or Universal Social Charge after the Budget. But higher income earners will still be hit with some of the highest taxes in Europe. That’s the assessment from the Irish Tax Institute, based on what it expects in next month’s Budget. As the economy surges ahead […]

The Coalition has no plans to offer any incentives to first- time buyers in the forthcoming budget. And there are also no plans by Fine Gael or the Labour Party to include sweeteners for young people struggling to get on the property ladder in their election manifestos. The news will come as a huge disappointment […]