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Irish Revenue Dept urges defaulters to pay property tax till Jan 7

DUBLIN: People who have not yet paid their local property tax (LPT) for 2015 or signed up to pay via monthly direct debits or employee deductions have been urged to make contact with the Revenue Commissioners before Wednesday’s deadline for payment. The 625,000 homeowners who paid last year’s tax by direct debit or through deductions from their wages do not ... Read More »

Irish couple nabbed in Spain for Euro 10.5m money laundering and smuggling

DUBLIN: A married former Irish couple were arrested last week by Spanish police as part of an investigation into money laundering and smuggling. It has been reported that the couple are Leonard Hardy, 54, and Donna Maguire, 57. They said it involved properties with an estimated value of 10.5m Euros. The investigation has been assisted by Irish police and Her ... Read More »

Ryanair shares hit all time high as passenger numbers up by 20pc

DUBLIN: Ryanair shares rose to all time high after its passenger numbers surged for a second successive month and the airline’s expanding fleet had fewer empty seats than a year ago. Ryanair said 20% rise in passenger numbers for December as it carried 6.02 million passengers last month compared to 5.02 million in December 2013. Ryanair’s load factor or how ... Read More »

UK, Ireland, Faroes mackerel exports to China surged

DUBLIN: Mackerel exports from the UK, Ireland and the Faroe Islands to China surged spectacularly in 2014, in turn reducing Norway’s market dominance in the country. Fresh import data from Customs Inform, available here, shows the UK has gone from accounting for barely 1% of China’s mackerel import volumes in 2013, to being the second largest supplier with 11% of ... Read More »

Massive €1 billion budget: Irish Cork harbor to become world’s greatest maritime tourism center

DUBLIN: Cork harbour got a massive €1 billion budget for its makeover that will transform it from an industrial eyesore, into one of the world’s great maritime and tourism centers. Cobh Harbour was the last mooring of the Titanic before she set sail for the open Atlantic in 1912,never to return. The White Star Line office, where tickets were bought ... Read More »

Ireland Customs collects over €34,000 from US festive shoppers

DUBLIN: Tax collected from Christmas shoppers arriving to Dublin and Shannon Airports from the US almost doubled this year, according to the latest figures from the Revenue Commissioners. Duty, Vat and penalties of just over €34,355 on goods to the value of almost €50,000 was collected from passengers on US flights from the November 1st up to three days before ... Read More »

Unsettled Int’l tax environment: It’s hard to explain foreign investment effect on Irish economy

DUBLIN: The international tax environment is still too unsettled for one to predict how any changes taking place will affect the State’s attractiveness for foreign direct investment, according to outgoing chairwoman of the Revenue Commissioners Josephine Feehily. Feehily said the ability of corporations to shift their profits between jurisdictions would be “severely constrained” if the type of changes now being ... Read More »

Irish Customs seizes 20,000 ‘Frozen’ dolls worth €600,000

DUBLIN: More than 20,000 counterfeit dolls of characters from the popular Disney movie ‘Frozen’ that were destined for the black market have been seized by Customs. The dolls were discovered in a container which had been shipped from China and could have fetched up to €600,000 on the high street. It’s understood the toys are similar to the highly sought-after ... Read More »

Belgium becomes 3rd largest market for Ireland, exports reach €11.2b

DUBLIN: Belgium is a major trading partner for Ireland. In 2013 Ireland’s goods exports to Belgium were €11.2 billion making it Ireland’s third-largest export market, although a proportion of this is shipped on from Belgian ports to other markets. Ireland and Belgium have a “powerful and historic relationship” stretching back centuries, Taoiseach Enda Kenny said yesterday as he launched a ... Read More »

Dublin port seizes 85kg herbal cannabis worth €1.7m

DUBLIN: Customs Officers have seized 85kg of herbal cannabis with a street value of €1.7m at Dublin Port. The drugs, destined for Dublin’s North City area, when officers scanned a container of animal feed which highlighted anomalies in the information provided with the shipment. Revenue’s x-ray scanner revealed 85 smaller packages of vacuum-packed drugs hidden within large cartons of animal ... Read More »

Irishman booked over €600k of cocaine smuggling in France

DUBLIN: An Irishman appeared in a French court charged in connection with the seizure of more than €600,000 worth of cocaine believed to be destined for Jersey. The 57-year-old appeared before a French magistrate in connection with a shipment of 4kg of cocaine seized last weekend. The seizure followed a joint operation between Jersey Customs and the anti-narcotics unit of ... Read More »

Irish Customs fines €10,000 to Cullaville man for discovering fuel waste   

LOUTH COUNTY: The North’s Customs office, HMRC, revealed that a Cullaville man was fined £7,500 (€10,000) and given a suspended prison sentence at Newry Magistrates’ Court for waste offences relating to the discovery of fuel laundering waste. Louth County Council’s contractors were tasked to Stephenstown, Knockbridge on Sunday where four cubes were dumped and removed them ahead of them being ... Read More »

Duty on Irish off-licenses raised by 600pc before Christmas

DUBLIN: As the eve of Christmas is a few day ahead, the duty on all kind of off-licences in Ireland has to suffer with high duties of more than 600 percent than the EU. At least 280% higher for beer and 230% higher for spirits. Alcohol, and in particular wine, is taxed outrageously in this country. Tax on wine has ... Read More »

Irish examination commission to pay €11m tax in 2015

DUBLIN: The Irish state examination commission will pay a tax of €11m in 2015 as it allocated a €52.5m budget to the commission this year, but this will rise to almost €64.4m in 2015, of which €10.7 m is believed to be provided for the anticipated settlement payment to Revenue. The anticipated settlement is behind an increased provision in the ... Read More »

Irish Customs seizes €1.8m drugs

DUBLIN: Customs of Ireland has seized the drugs worth over €1.8 million in separate hauls in Dublin and Clare. Customs officers seized some 120,000 ecstasy tablets with an estimated street value of €1.2 million in Dublin. A 24-year-old man was arrested and is currently detained at Kilrush Garda station under section 2 of the Criminal Justice (Drug Trafficking) Act 1996. ... Read More »

Ireland returns $11.22 billion to IMF, saves hundreds of millions of Euros

DUBLIN: The Irish government has paid almost half of the loans lend from the International Monetary Fund (IMF) under its 2010 bailout. Through this early payment Ireland succeeded in saving its hundreds of millions of Euros in future interest payments. In a statement, the government said the repayment completes “a hugely successful year in improving Ireland’s debt sustainability.” “The recovery ... Read More »

Irish ISME chief urges end to discriminatory tax system

DUBLIN: ISME chairman Eamonn Kielty echoed Mr Fielding’s comments in his address to delegates, saying the government should “stop, once and for all, the discriminatory tax system in relation to the self-employed as small business is the backbone of the economy, but their money isn’t where their mouth is.” Mark Fielding told that small businesses consistently face difficulty in making ... Read More »

Irish SMEs with turnover of less than €500,000 witness 50pc increase

DUBLIN: The amount of money raised by Irish Small and Medium Enterprises (SMEs) through invoice finace has risen by 50 percent more money whose annual turnover were more than €500,000 in the third quarter of 20-14. The data comes from the Asset Based Finance Association (ABFA). Invoice finance usually works by having the finance provider purchase the client’s outstanding invoices ... Read More »

Google tax to target Irish based technology giants

DUBLIN: The so-called ‘Google Tax’ is aimed at limiting the benefits to companies of tax avoidance measures such as the Double Irish, and will target inter-company fees for services like the use of intellectual property. The Treasury document said that the 25pc UK tax would be effective from the start of April, and would target conduit-type structures, such as the ... Read More »