Revenue has written to over 100,000 taxpayers confirming that their tax debts totaling €2.2 billion are eligible for Debt Warehousing. The Debt Warehousing Scheme allows VAT and PAYE (Employer) debts incurred by businesses during the period of restricted trading caused by Covid-19 to be ‘parked’ on an interest free basis for 12 months following the…

The European Commission has said the outlook for the Irish economy is “highly uncertain” and that risks are “elevated”.  In a report published today, the Commission notes that Ireland’s public finances were in “a position of strength” at the start of this year.  However, the impact of the Covid-19 pandemic and the cost of the…

A new survey shows that Ireland comes in fourth place in the league table of attractive European locations for foreign direct investment in 2021. The EY European Attractiveness Survey was conducted among across 47 countries in October. Survey respondents were asked to select the three European countries they believed will be the most attractive for…

The number of people in employment during the third quarter of this year stood at 2,295,200, according to the latest Labour Force Survey published by the Central Statistics Office.  This gives an employment rate of 67.7% and represents an annual decrease of 31,700. When adjusted for Covid-19, the number in employment at the end of…

Revenue is advising businesses who have not fully prepared for Brexit to act now to avoid significant disruption in their international trade.  The advice comes following Revenue’s recent comprehensive trade engagement programme, which involved writing to over 90,000 businesses in September and making follow up telephone calls to approximately 14,000 of those who Revenue believe…

The chief executive of employer’s group Ibec has told the Government that there is serious and urgent concern in the business community around the current phase of Covid related restrictions. Danny McCoy also called on the Government to allow the retail, hospitality and travel sectors to reopen as a priority ahead of Christmas, with a…

Eligible businesses can claim cash payments under the Government’s Covid Restrictions Support Scheme from today. The scheme is designed to assist firms which have had to close or have seen trading greatly reduced due to the introduction of Level 3 or higher Government restrictions to counteract the spread of Covid-19. So far around 9,500 businesses…

The Central Bank has warned lenders that it expects them to clearly communicate with customers at all stages of the mortgage application process, including customers who have already received loan offers. In a letter to the CEOs of the lenders, the bank said they must make clear to customers that where there has been any…

European Union diplomats have warned Britain that time was fast running out for a Brexit deal, and that it may already be too late to ratify one, as negotiators in Brussels began a last-ditch attempt to avoid a tumultuous exit at the end of December. EU and UK officials resumed intensive negotiations in Brussels this morning…

Proposed changes to a VAT refund scheme, availed of by non-EU residents who purchase craft and gift items here, will impact jobs, tourism and the retail sector, a report published today concludes. The study was conducted by economist Jim Power on behalf of the ‘Stop Another Tourism Tax’ Campaign – an alliance of independent Irish…