Revenue | Business Post

Larkins’ building firm hits wall with €4.3m interest on tax debt

Vieira Limited, which courted controversy over Tyrrelstown estate, had previous run-ins with Revenue over Vat assessments

Morning Headlines

Peter Burke’s planning overhaul; Dutch Railways gets €250m liquidating Irish firms after tax row

The stories you need to read this morning in business, politics and current affairs – plus an in-depth interview with John Creedon, the radio and TV broadcaster

Revenue worried about ‘growing trend’ of businesses trading cash-only

Politicians to hear Revenue has noticed an uptick in off-books payments and as it attempts to clamp down on tax avoidance and evasion

Mica homeowners have exemptions to property tax ‘removed’

Revenue has told some homeowners they have to pay the LPT because they haven’t been admitted onto the scheme yet, as hundreds wait on Donegal County Council to deal with a major backlog of applications

Government reviews importing of goods made with forced labour

Move comes after legal rights group threatened court action to secure a ban on imports of cotton from the Xinjiang region of China that is produced by the forced labour of Uyghur Muslims and other ethnic minorities

Revenue extends debt warehousing scheme until May 2024

The Business Post has over recent weeks repeatedly highlighted the number of firms for which the original deadline was likely to prove problematic

Government to keep tax warehousing scheme under review

No decision has been taken whether to extend the scheme or not

Revenue gives struggling firms one week to clear debt

Companies one step away from enforcement action have been given seven days to pay tax debts or else face the sheriffs

Ireland warned to stop import of cotton linked to Uyghur detention camps

Global Legal Action Network seeks European Court of Justice ruling for EU-wide ban on products of forced labour in China

Today's headlines

Revenue may use sheriffs to collect €500m of business debt; Irish unicorn Flipdish laying off staff

The top stories from business and politics in today’s Business Post

Businesses face new year shock as Revenue sends in the sheriffs

Revenue sheriffs will seek to collect as much as €500 million in outstanding tax debt in Q1 of 2023 – just as firms struggle to cope with high fuel costs and the cost of living crisis

Corporate insolvencies expected to rise 36%

Businesses in the services sector in Ireland account for the highest proportion of corporate insolvencies with 195 in the first nine months of the year

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

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

Revenues rise at Ikea’s Irish arm as online sales soar

Company pays €3m in dividends to Swedish parent as furnishings retailer benefits from homeowners turning living quarters into workspaces

Tom Maguire: Revenue’s input critical as global rule changes present challenges

While headway was made last year on complex EU tax issues, it is still an evolving area and guidance is essential if new measures are to be implemented

Demolition of Revenue’s Limerick HQ ‘farcical’, says Green TD

Brian Leddin, chair of Oireachtas environment committee, says plan to demolish 1970s-era Sarsfield House should be re-examined due to impact on the environment

Big earners want to strike deals with taxman after settlement

A dozen or more high net worth individuals are hoping for a favourable deal with the Revenue Commissioner after a businessman allegedly agreed to settle for a fraction of his tax liability

Revenue boss Cody gets three-year extension in his post

The chairman of the tax authority was due to finish his term in office last January, but he indicated his willingness to serve for longer

Revenue to contact 300,000 property owners yet to file LPT return

Returns for the 2022–2025 valuation period were due in November 2021