Tax Global tax deal threatens €4.5 billion worth of Ireland’s corporate taxNew OECD rules which come into effect next year, aim to stop tax responsibilities being shifted between countries and introduce a 15 per cent tax rate for large multinationals
Phantom Exports Finance cannot access details about Irish ‘phantom exports’For reasons of commercial sensitivity, the Department of Finance has no access to data about Irish goods not produced or traded from here, but booked here for tax purposes
Politics Government considers new state pension fund to absorb ‘windfall’ corporate tax receiptsThe government has taken advice that over half of Ireland’s bumper corporate tax revenues could be windfall in nature and should not be committed into permanent spending
Banking State reviews bank reporting requirements dating from 2008Exercise aims to axe duplicated and outdated reporting obligations in light of changes in EU legislation since financial crash
Housing Donohoe: ‘huge uncertainties around data’ for rental tax creditMinister for Finance warns that new €500 tax credit was costed based on an estimated number of eligible renters and not specific data
Budget 2023 Businesses to benefit from €1.25bn in energy supports Under the terms of the new scheme businesses that can show their average unit price for gas and electricity has increased by more than 50 per cent in the last 12 months will be eligible
Housing Investors shelled out almost €1bn on second-hand Irish homes in 2021Institutional investors and real estate firms snapped up one in ten second-hand homes in this country, amounting to more than 4,500 properties
Politics Finance official leaked confidential Siteserv sale details while at DavyA list of bidders for Siteserv was disclosed by Des Carville – now a senior civil servant in the Department of Finance – to a corporate finance consultant, who passed on the information that would ultimately alert Denis O’Brien to the sale
Finance Donohoe will be ‘guided by Revenue’ on sharp fall in Iref tax takeMinister for Finance has in recent years moved to clamp down on what he called the ‘aggressive behaviour to avoid tax’ by investors that use the Iref structure to house their assets
Finance Corporate tax receipts expected to reach €20bn this year New report says there is a ‘compelling case’ to treat up to €6bn in corporate tax receipts as ‘volatile’ and unreliable into the future to ensure sustainability of public finances
Property Funds Reason for dramatic fall in taxes paid by Irefs ‘yet to be identified’A review by the Revenue Commissioners into the sharp decline in taxes paid by Irish real estate funds will not be completed until late 2023
Housing ‘Forward funding’ model enabling funds to avoid higher taxesDepartment of Finance officials have found that if institutional investors ‘forward fund’ residential developments, they can avoid stamp duty charges on residential blocks because the property never technically changes hands
Tax Revenue opens review into decline in taxes paid by large property funds Rate paid by large property investors has fallen from 17.9 per cent in 2020 to 5.9 per cent last year
Economics Record tax receipts drive €5bn exchequer surplusTax revenue stands at €43.5bn after the first seven months of the year
Budget 2023 Budget to include 6.5% spending increase to tackle cost of livingThis year’s Budget will be brought forward by two weeks to September 27, the government announced as part of today’s Summer Economic Statement
Banking State to sell further 5 per cent of its AIB shareholding Overall size of the state’s shareholding will be reduced from 68.5 per cent to 63.5 per cent
Insurance Government shelves rescue fund for bailed-out insurers that could have led to costly levyThe state now plans to help shape a European proposal aimed at protecting policy holders in the event of an insurer going to the wall
Ian Guider: The state is staying silent as two banks prepare to shut up shopThe withdrawals of Ulster Bank and KBC Bank are close at hand, but the Department of Finance and the Central Bank are conspicuous by their silence on the seismic changes in the sector. Why?
ECB paves way for Central Bank database of bank accounts and owners in the stateDraft law proposes a Central Bank administered database of bank accounts and account holders to prevent terrorist financing and money laundering
Briefing notes for Donohoe on housing omitted crucial detailsRecords released under FOI reveal that Dept of Finance officials cherry-picked data relating to residential vacancy rates
