Archive for July 2024
Navigating VAT Compliance: Simplifying Complex Regulations for SMEs
Value Added Tax (VAT) compliance is a pivotal aspect for small and medium-sized enterprises (SMEs) that directly impacts their financial health and operational efficiency. Given the variety of VAT rates and the frequent changes in regulations, understanding and managing VAT can seem like a daunting…
Read MoreHarris meets banks over mortgage interest rates
The Taoiseach has told the banks he wants people to feel the benefits of reduced monthly mortgage repayments as quickly as possible as interest rates begin to fall. Simon Harris has now concluded a series of meetings with banks, credit unions and non-bank lenders. The meetings focused on mortgage interest rates, the housing sector and…
Read MoreTax take for first half of year up 9%, exchequer figures show
The State took in a total of €44.7 billion in tax in the first six months of the year, up more than 9% on the same period last year, the latest exchequer returns show. The strong performance was driven in particular by corporation tax, income tax and VAT and contributed to an exchequer surplus of…
Read MoreBudget 2025 to be brought forward to 1 October – Chambers
Budget 2025 is to be brought forward one week to Tuesday 1 October, Minister for Finance Jack Chambers has said. Speaking on RTÉ’s Morning Ireland, Mr Chambers said it was the “natural date” to hold the Budget due to ministerial commitments in Europe the following week. “We’ve to submit our fiscal and budgetary submission to…
Read MoreNavigating VAT Compliance: Simplifying Complex Regulations for SMEs
Value Added Tax (VAT) compliance is a pivotal aspect for small and medium-sized enterprises (SMEs) that directly impacts their financial health and operational efficiency. Given the variety of VAT rates and the frequent changes in regulations, understanding and managing VAT can seem like a daunting task. However, with strategic approaches and effective management practices, SMEs…
Read MoreService sector growth moderates, input costs fall sharply
Growth in the country’s service sector moderated slightly in June, bringing jobs growth to a near standstill but a sharp drop in input costs offered welcome relief to firms, a survey showed today. The AIB Global S&P Purchasing Managers’ Index fell to 54.2 from 55 in May, broadly in line with the trend for the…
Read MoreBank of Ireland revises GDP outlook, but expects healthy growth
Bank of Ireland has downgraded its outlook for growth in Gross Domestic Product (GDP) to 1% this year and 3.9% in 2025. The bank had previously guided GDP growth of 1.5% for 2024 and 4% next year. The downwards revision was accounted for mainly by distortions associated with the multinational sector rather than any material…
Read MoreGovt to draft law to dissolve NAMA and wind up IBRC
The Government has given the go-ahead for the drafting of legislation to complete the dissolution of the National Asset Management Agency (NAMA) and the winding up of the Irish Bank Resolution Corporation (IBRC). When enacted, the laws will facilitate the planned ending of the liquidation of IBRC by the end of this year and the…
Read MoreEnhancing Cash Reserves: Effective Strategies for Liquidity Management in Small Businesses
In today’s ever-evolving market landscape, liquidity management remains a cornerstone of a small business’s financial health. Enhancing cash reserves is not just about having funds in the bank; it’s about strategically managing these funds to ensure operational stability and facilitate growth….
Read MoreUp to 53,000 new dwellings needed per year to cater for population growth – ESRI
A new report from the ESRI shows that 35,000 to 53,000 new dwellings will be needed annually based on projected population growth scenarios. The report looks at forecasts for population levels and related housing requirements using census and research data, as well as various forecasts on international migration patterns. The research was funded by the…
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