Categorized as: Syndicated News

Accountants warn tax changes could harm investment

The OECD is looking at closing tax loopholes which allow some companies to legally pay little or no tax.

The proposed changes to the international tax regime must continue to allow a company to be incorporated in Ireland but not pay tax here if its tax home is covered by a tax treaty, the chartered accountants have argued.

Failing to do so could damage foreign direct investment, the Consultative Committee …

First-time buyers must resist the lure of risky loans despite the soaring prices

Buyers, specifically first-time buyers, are getting shafted, as tighter credit conditions and 2005-level house prices push them out in favour of the cash buyer, the institutional investor, or the punter from the rest of the world looking for a decent rental yield in this low inflation, low interest rate, low yield world we now inhabit on this side of Europe.

Those on the sell side of the property market outside …

Skill shortages and high costs could hurt Ireland’s FDI

The study by accountants Grant Thornton concluded Ireland continues to outperform its competitors in attracting FDI.

But it warned more needs to be done to ensure it remains an attractive destination.

Jobs Minister Richard Bruton said it was important to determine the challenges that faced Ireland in the FDI sector.

“That is why my department will shortly publish our policy statement on FDI, and following on from that IDA Ireland …

Noonan warns Cabinet not to get their hopes up on Budget

Public Spending Minister Brendan Howlin told the Irish Independent he is having to “manage the expectations” of his cabinet colleagues, who are seeking to increase their budgets, despite the need to reduce the country’s debt levels.

The Government has accepted the adjustment in the Budget will be less than the projected €2bn.

But Mr Noonan warned ministers against assuming the Budget would be easy as a result. In a briefing …

Credit Union League had worked closely with bust lender

Asked about reports that president of the league Martin Sisk has been attending board meetings at the credit union for two years, a spokeswoman said a number of league personnel have been involved with the wound-up credit union.

The league, which is a representative body for most credit unions, was asked why Berehaven ended up having liquidators appointed by the High Court when it was aware of the problems at …

Confidence jumps as 86pc of Irish chief executives now positive about economy

The vast majority of company bosses are positive about the outlook – a three fold increase on 2013, according to PwC’s 2014 CEO Pulse Survey.

The study found that more chief executives are upbeat compared with 2007, but almost a quarter feel that their position has deteriorated.

Jobs Minister Richard Bruton said recent years have been painful for many workers but an improvement is starting to become evident.

“The survey …

Government failing to tackle subprime issue, claims FF

The scale of the mortgage arrears crisis among the subprime market has been shown with figures emerging that suggest almost 60 per cent of that market is struggling.

The state of the subprime mortgage book has been described as “appalling” by Fianna Fáil spokesman on finance Michael McGrath, who highlighted the figures and called on the Government to set targets for the resolution of subprime arrears cases. ‘Staggering’ arrears

“The …

Tenants who stop paying rent can live ‘free’ for 18 months

They have criticised the system for dealing with problem tenants and the Private Residential Tenancies Board (PRTB), which regulates the sector.

A number of landlords, who inherited property or are renting out their home after moving back in with their parents, complained about delays in getting determinations from the PRTB, being left without rent but still having to pay mortgages, and tenants ignoring requests to pay arrears.

The PRTB was …

Saudis to open stock exchange to international investors

Saudi shares climbed the most in 10 months after the country’s market regulator said it would open the Arab world’s biggest bourse to international investors by the middle of 2015. The Tadawul All Share Index rose 2 per cent to 9,940.11 this morning in Riyadh, the biggest jump since September.

Saudi Basic Industries, the world’s biggest petrochemicals producer, led the gains with a 5.3 per cent advance. Etihad Etisalat added …

Russia’s oil barons and billionaires fearful of trade sanctions

If Mr Putin doesn’t move to end the war in Ukraine in the wake of last week’s downing of a Malaysia Air jet in rebel-held territory, he risks becoming an international outcast like Belarus’ Aleksandr Lukashenko, whom the US famously labeled Europe’s last dictator, one Russian billionaire said on condition of anonymity.

“The economic and business elite is just in horror,” said Igor Bunin, who heads the Centre for Political …