Archive for May 2024
ECB can start cuts before Fed, says Finnish bank governor Rehn
The European Central Bank did not have to take its cues from the US Federal Reserve and could start to lower rates as soon as June, Bank of Finland governor Olli Rehn has told AFP. “While we don’t make policy in a vacuum, the ECB is not the 13th Federal district of the US Federal…
Read MoreRevenue issues new guidance on employment status
Revenue has published new guidance on determining the employment status of workers for tax purposes. It follows a recent Supreme Court judgement relating to Domino’s Pizza delivery drivers. In October 2023, the court ruled that the drivers should be treated as employees and not contractors. The case related to delivery drivers working on 2010/2011 contracts…
Read MoreAnnual wholesale electricity prices fell by almost 30% in April – CSO
Wholesale electricity prices – the prices that suppliers pay to generators – fell nearly 30% in the 12 months to April, the latest Central Statistics Office figures show. Wholesale electricity prices had rocketed in the period after Russian invasion of Ukraine, and today’s figures show they have fallen back nearly 60% since April 2022 and…
Read MoreThe Essentials of Cross-Border Taxation: Understanding the Complexities for International Business
In an increasingly globalised world, businesses expanding beyond their domestic borders face a myriad of challenges, not least of which is navigating the complex web of cross-border taxation. Understanding the intricacies of international tax laws is crucial for any business aiming to operate successfully on a global stage. This article from KAAS delves into the…
Read MoreEurope sets benchmark for rest of the world with landmark AI laws
Europe’s landmark rules on artificial intelligence will enter into force next month after EU countries today endorsed a political deal reached in December, setting a potential global benchmark for a technology used in business and everyday life. The European Union’s AI Act is more comprehensive than the US light-touch voluntary compliance approach while China’s approach…
Read MoreUK inflation falls less than expected, dashing June rate cut hopes
Inflation in Britain fell by less than expected in April and a key core measure barely dropped, prompting investors to pull bets on a rate cut next month which could have boosted embattled Prime Minister Rishi Sunak before an election this year. UK consumer prices rose by an annual 2.3% last month, down sharply from…
Read MoreEU new car sales jump 13.7% in April, industry body says
New car sales in the European Union rose 13.7% in April on the year for their biggest jump since last October, Europe’s auto industry body said today, after registrations fell in March. The European Automobile Manufacturers Association (ACEA) said an uptick in major markets Spain, Germany, France and Italy drove the increase, while an early…
Read MoreMastering Financial Forecasts: Strategies to Enhance Your Business’s Predictive Powers
In today’s rapidly changing economic landscape, the ability to predict future financial outcomes is more than a strategic asset; it’s a necessity for any business aiming to thrive. Financial forecasting enables businesses to anticipate results, allocate resources efficiently, and manage risks effectively. However, mastering the art of financial forecasts is no small feat. In this…
Read MoreRevenue reminds employers of enhanced reporting obligations
Revenue has issued notices to 115,000 employers reminding them of their obligations under the Enhanced Reporting Requirements (ERR) scheme. Since January 1st, employers who provide the remote working daily allowance, untaxed travel and subsistence payments or qualifying incentives under the small benefit exemption to their employees and directors, without the deduction of tax, are required…
Read MoreBudget will widen gap between better off, those on low incomes – survey
A new analysis of Budget 2024 has warned that it will widen further the gap between the better off and those on the lowest welfare and work incomes. The study by Social Justice Ireland found that the temporary measures contained in the Budget are more concentrated among welfare dependent households and those at work but…
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