Business News
Euro zone inflation held steady as expected last month, taking a break in what is likely to be a temporary but sharp spike in consumer prices in the coming months, data showed today. Prices in the euro zone rose by 0.2% on the month in January and 0.9% compared to a year earlier, in line […]
Bank of Ireland has said that no location will be left without access to financial services or cash facilities after its decision to close 103 branches in the Republic of Ireland and Northern Ireland. The bank said the branches that are closing are predominately self-service locations that do not offer a counter service. The branches […]
Ireland has the second-highest minimum wage across the EU, at €1,724 per month, according to Eurofound. Luxembourg has the highest, at €2,202, the Dublin-based EU agency said in a new survey. Ireland’s minimum wage was raised to €10.20 an hour from January this year for people aged 20 and over. The rate here is recommended […]
The notion that ordinary savers could be charged to leave their savings in a bank has alarmed many — yet this is exactly what would happen if customers are hit with negative interest rates. There are growing concerns that personal customers could be hit with negative interest rates later this year. The upcoming withdrawal of […]
Retailers are negotiating rental discounts of up to 20pc in many cases, as they continue to be affected by Covid-19 restrictions. More substantial discounts are being achieved by shops negotiating new lettings in certain locations, according to agents CBRE in its latest bimonthly market report. “This is creating opportunities for those retailers that are in […]
Library of Knowledge No. 47 Re: Standard Rate Reverts to 23% from 1st March 2021. The standard rate of VAT will return to 23% from 1st March 2021, having been temporarily reduced in response to the COVID-19 pandemic. As part of the Government’s July Stimulus Package, the standard rate of VAT was reduced from 23%…
The Central Bank has contacted a number of insurers on resolving relevant business interruption claims in a ‘proactive and speedy’ manner. It comes as the bank continues its supervisory examination of business interruption insurance issues and in the wake of the recent judgement from the High Court against FBD. The court ruled in favour of […]
Library of Knowledge No. 46 Criteria from 1st January 2021. From 1 January 2021, the period to be reviewed to determine eligibility for EWSS will be 1 January to 30 June 2021. The reduction in turnover or customer orders (30%) between 1 January and 30 June 2021, is shown compared to the: same period in…
Library of Knowledge No. 45 Re: 2020 Commercial Rates Waiver (update) In Budget 2021, the Government announced an extension of the waiver of 2020 commercial rates for certain properties. The initial 3 month waiver period from 27th March 2020 was extended twice, to 27th September 2020 and finally to 31st December 2020. This waiver is…
Businesses, and especially SMEs, have been alerted of the need to actively claim the zero-tariff rate on UK origin goods. The Minister of State for Business, Employment and Retail, Damien English, said that under the EU-UK Trade and Cooperation Agreement, tariff duties are eliminated for trade between the EU and the UK where the relevant […]