Friday , January 24 2020
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U.K. Tax Agency Offers a $130,000 Bounty on Privacy Coin Traceability

The U.K.’s taxman is looking to crack down on private transactions. HM Revenue and Customs (HMRC), the tax authority for the U.K., has granted a bounty of $130,000 (£100,000) for anyone that can effectively track and identify crypto criminals. But what does this mean for privacy coins and financial anonymity? HMRC is looking for an autonomous way to analyze seven ... Read More »

Northern Ireland IT insurance firm reroutes €70m (£60m) of business

MCL InsureTech, the name behind online insurance brands Its4women, 25plus and Boxymo, has relocated its Irish operations to Swords, Dublin with the creation of 40 new roles there. The move by the Coleraine-based firm will represent an investment to the Irish economy of £3m and comes as a result of continued uncertainty around the UK’s exit from the EU. It ... Read More »

The post-Brexit Free Trade Deal the UK will get

With the date for the UK to exit the political structures of the EU now set at 31 January, the focus for 2020 will move to the much more challenging phase of Brexit – negotiating a UK-EU Free Trade Agreement (FTA). The shallow scope of this as a Canada-style deal is clear from the Boris Johnson election success. However, there ... Read More »

Tax-free Irish Google unit paid $50bn in dividends

An Irish arm of Google has paid dividends of $50.8bn (€45.3bn) over the past two years, ahead of it losing the benefits of the so-called ‘double Irish’ tax scheme. The latest accounts show its profits were entirely tax-free in 2018. During 2019, dividends of $27.9bn were paid by Google Ireland Holdings Unlimited (GIHU) to the company’s immediate parent. In 2018, ... Read More »

The Wren Boy Procession and the Irish tradition of St Stephen’s Day

Ireland marks Christmas in much the same way as many other nations around the world, but we have quite a few traditions and customs that are pretty specific to this island. Christmas in Ireland lasts from Christmas Eve until the Feast of the Epiphany on 6 January and it’s on 24 December that one of the traditions marks the beginning ... Read More »

Gov’t simplifies procedures for EU-bound goods

THE GOVERNMENT has moved to simplify procedures for Philippine exporters to the European Union (EU), as the Bureau of Customs (BoC) released guidelines for self-certification of origin in order to avail of lower tariffs under the EU’s Generalized System of Preferences (GSP). In Customs Memorandum Order No. 50-2019, the BoC said the guidelines would simplify export processes by allowing exporters ... Read More »

Insurance legal costs; easing rules on work permits and trouble at top Irish tech group

Insurance costs remain in the headlines and business editor Ciarán Hancock reports that almost half a billion euro was spent in legal costs associated with motor insurance claims that were settled in the courts between 2015 and 2018. Also in the spotlight, one of Ireland’s oldest internet companies, which counts Facebook, Google and Apple among its users, has become embroiled ... Read More »

Northern Ireland election results: DUP’s Brexit influence is gone

A comfortable majority for Boris Johnson means his Brexit will happen. That will have profound implications for Northern Ireland. It will likely mean a new “Irish Sea border” in operation in little over a year’s time. Mr Johnson is expected to bring his withdrawal deal back to Parliament next week, beginning a process that will take the UK out of ... Read More »

Northern Ireland customs protocol could thwart Brexit plans

Northern Ireland customs arrangements may thwart Boris Johnson’s plan to leave the EU by December 2020, according to a document said to be leaked from civil servants in the Department for Exiting the EU. In the document, seen by the Financial Times, staff raised concerns about the readiness of the new customs arrangement, calling the protocol to keep part of ... Read More »

Carbery receives €35m EIB loan to help Brexit-proof business

Carbery Group has received a €35m loan from the European Investment Bank (EIB) to support fund the construction of a €78m manufacturing plant, which it hopes will help Brexit-proof the business. The EIB is the long-term lending institution of the European Union. It is owned by member states. This is the first ever EIB financing for an Irish agri-foods business. ... Read More »

Ireland Prepaid Cards Business and Investment Opportunities

DUBLIN, Nov. 29, 2019 /PRNewswire/ — The “Ireland Prepaid Cards Business and Investment Opportunities – Market Size and Forecast (2014-2023), Consumer Attitude & Behaviour, Retail Spend, Market Risk – Updated in Q3, 2019” report has been added to’s offering. The prepaid card market (value terms) in Ireland increased at a CAGR of 16.8% during 2014-2018. Over the forecast period ... Read More »

The Irish Times view on the EU-UK withdrawal deal: A hostage to fortune

EU leaders were explicit: the UK could have the extension it had asked for until January 31st as long as in the process it did not “undermine the regular functioning of the Union and its institutions”. And that it honoured its “obligation to suggest a candidate for appointment as a member of the European Commission” for that duration. A treaty ... Read More »

Big Red Business: Breaking down Nebraska’s 2021 trip to Ireland

Nebraska will be dancing an Irish jig to the tune of $250,000 when it opens the 2021 football season in Dublin’s Aviva Stadium against Illinois. That’s the guaranteed amount the school will receive for playing the Aug. 28th, 2021 Aer Lingus Football Classic. The payment should cover Nebraska’s travel expenses and hopefully, then some, according to a copy of the ... Read More »

Mothercare UK to go into administration but Irish business won’t be affected

Mothercare Ireland has said that it will not be affected by the closure of its UK equivalent. The company has announced plans to put its UK retail business, which has 79 stores, into administration, putting hundreds of jobs at risk. The firm’s UK business has been unprofitable for more than a decade, which sparked a mass of closures last year. ... Read More »

N. Ireland’s DUP signal they’ll reject customs union compromise, in Brexit blow for UK opposition parties

The Democratic Unionist Party (DUP), the UK government’s Northern Irish key allies, have indicated that they will not back a customs union amendment to the Brexit Bill, in a set-back for opposition parties. In what is a crucial week in the Brexit process, with UK PM Boris Johnson’s Tory government looking to get their Withdrawal Agreement Bill (WAB) passed by ... Read More »

Johnson’s customs proposal falls flat along Ireland border

Eamon Fitzpatrick’s transport and fuel business is located right on the border between County Monaghan in the Irish Republic and County Fermanagh in Northern Ireland. Standing in his busy yard with his right foot south of the border and his left foot to the north, he says he faces “mind-boggling” challenges as the clock ticks down to Brexit. “To set ... Read More »

Brexit deal hopes fade as DUP rules out concessions

Hopes of a Brexit deal at next month’s European Council received a blow on Sunday night when DUP leader Arlene Foster ruled out any concessions on customs and the regulation of goods. Ms Foster said she could not accept any kind of internal customs border within the UK, adding Northern Ireland could not be part of two customs territories. Her ... Read More »

Newry business Zen Day Spa recognised as a ‘Best-in-Class All Ireland business’

Business All-Stars award and accreditation quality mark signified Zen Day Spa as ‘progressive indigenous all-Ireland business’, that has met the highest quality standards of verified performance, trust and customer-centricity in rigorous selection criteria throughout all of Ireland. This accreditation is overseen by the prestigious All-Ireland Business Foundation, a national body responsible for identifying an accrediting Best in Class Irish Businesses ... Read More »

Mining Ireland Conference 2019: ‘Ireland – Open for Business’

Geoscience Ireland, in collaboration with the Irish Mining and Quarrying Society, will be hosting the ‘Mining Ireland’ conference on October 8 at the Radisson Blu Hotel, Dublin airport Geoscience Ireland, in collaboration with the Irish Mining and Quarrying Society, will be hosting the ‘Mining Ireland’ conference on October 8 at the Radisson Blu Hotel, Dublin airport. Mining Ireland has grown ... Read More »

Boris Johnson given two-week EU deadline for Irish backstop plan

Boris Johnson has been set a two-week deadline to table a plan for replacing the Irish backstop as further embarrassing details emerged of the prime minister’s chaotic visit to Luxembourg. France’s president, Emmanuel Macron, and Finland’s prime minister, Antti Rinne, told reporters in Paris that they were both “concerned about what is happening in Britain”. “We need to know what ... Read More »