Archive for October 2024

The State is transferring the first in a series of annual payments into a fund set up to invest windfall gains from taxing multinationals. Four billion euro is being moved from the Exchequer to the Future Ireland Fund. The fund is one of two vehicles set up to save some of the proceeds from corporation…

Transfer pricing is a concept that may not immediately appear on the radar of small businesses, but for those engaged in international trade or with affiliated companies in different countries, it’s a crucial area of tax compliance and planning. Even though it is often associated with larger multinational corporations, small businesses that operate across borders…

Euro zone firms have recorded a further slowdown in business momentum but overall economic growth is likely to remain positive as expansion in services offsets a manufacturing recession, a European Central Bank quarterly survey of firms showed. The euro zone economy is barely growing as Germany, its biggest economy, could be in recession and the…

Petrol and diesel prices have decreased for the third month in a row, the latest AA Ireland fuel survey shows. Petrol dropped by two cents to €1.72 per litre in October, while diesel prices also dropped by a cent to an average of €1.66 per litre. AA noted that crude oil prices are fluctuating daily…

Media regulator Coimisiún na Meán will formally launch Ireland’s Online Safety Code following the conclusion of an assessment by the European Commission. The rules will apply to video-sharing platforms that have their EU headquarters in Ireland. The code will be legally binding, and companies will face fines of up to €20 million for breaches of…

The value of venture capital deals in Ireland dropped 59% between July and September, compared to the same period last year. Data compiled by KPMG Venture Pulse shows 28 deals worth $100.9m were closed during the third quarter. The researchers blame the performance on muted global activity in the space, which fell from a five…

Euro zone inflation slowed more than previously estimated in September, according to revised official data released today, hours before the European Central Bank cut interest rates again. Year-on-year consumer price increases in the single currency area slowed to 1.7% last month, a slight change from the 1.8% figure published on October 1, according to the…

The European Central Bank has cut interest rates for the third time this year, saying inflation in the euro zone was increasingly under control while the outlook for the wider economy was worsening. The first back-to-back rate cut in 13 years marks a shift in focus for the euro zone’s central bank from bringing down…

The European Central Bank (ECB) is widely expected to cut interest rates today. If a reduction happens it would automatically benefit tracker mortgage customers and put downwards pressure on variable rates. The ECB had increased rates in an effort to reduce inflation two years ago. But latest figures show the rise in the cost of…