People wanted short-term measures to assist with rising costs in the knowledge that the tax receipts that support them could well evaporate. And that contradiction underpinned Budget 2024.
In a perfect illustration of coalition politics, Budget 2024 allocates some windfall corporation tax to future current spending, some to the stability of capital expenditure, some to green policies - and most to an immediate giveaway.
As corporation tax receipts fall below forecasts, the largest payments yet to come this year will determine the new trend after years of runaway growth.
We need to move beyond the short-term obsession and the archaic constraints of our traditional budgetary approach. We need to make and win the case in Brussels for splitting the capital budget from the current budget, and to fund the former separately.
The Cork-based accountancy firm Quintas has a new owner – Xeinadin Group, the British accounting firm. Quintas managing partner Paul O'Connell explains why the deal made sense, and how it came about.
A Paris court is holding the fourth successive trial of the inheritance tax dispute involving two generations of the billionaire Wildenstein family. Their bloodstock interests were located in Irish companies – until very recently.
There is little evidence to suggest that the corporation tax bounty will dry up. But with the budget approaching, it is politically useful for the budgetary ministers to voice their concerns and show their caution.
No one really cares where windfall corporation tax is coming from as long as it keeps coming and, absent radical political change in the US, it likely will. What to do with it? We currently have no coherent answer.
A promised measure to exempt foreign dividends from corporation tax will make no financial difference but was a key simplification demand of FDI investors.
No one really thinks that Ireland’s €250 billion domestic economy is generating €200 billion in profits for American multinational firms. To recover its tax base, the US should reform its own rules.
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