Newspaper articles - 6th February, 2012
Home charge fines will be taken from pay - Irish Examiner
People who do not pay the household charge will have fines taken straight from their wages, Justice Minister Alan Shatter has confirmed. He was responding to claims by Tánaiste Eamon Gilmore that an amendment to the Fines Act, due later this year, would not be used where people had failed to pay the €100 a year charge.
http://www.irishexaminer.com/news/home-charge-fines-will-be-taken-from-pay-182712.html
Full Mortgage relief 'not paid' - Irish Times
The failure of the Revenue Commissioners and the main banks to co-ordinate their computer systems in time has left hundreds of thousands of young mortgage holders paying more than they should for their loans. A total of 270,566 people are eligible for the increased rate of mortgage interest relief, set at 30 per cent and granted in the last budget. The changes – which were primarily designed to help younger home owners in negative equity – came into effect on January 1st.
http://www.irishtimes.com/newspaper/breaking/2012/0204/breaking4.html
Tax take surges by 17% in January - Irish Times
The State collected €3.66 billion in tax during the first month of the year, up 17 per cent or €533 million on the same month last year, the latest exchequer returns show. The Department of Finance said the “very significant” year-on-year increase was partly due to the late payment of more than €250 million in corporation tax which had originally been due in December. The figures were also boosted by a 27.7 per cent surge in income tax receipts which came in at €1.26 billion, reflecting the first full-year impact of the universal social charge.
http://www.irishtimes.com/newspaper/breaking/2012/0202/breaking47.html
Central Bank sharply cuts growth forecast for this year - Irish Times
THE CENTRAL Bank has sharply lowered its economic growth forecast for 2012, citing slowing export growth and weak consumer spending. However the Bank says its lower growth forecast should not affect the Government’s budgetary arithmetic for the year. Despite the renewed weakening of the economy since the middle of last year, tax revenues for January met budgetary targets, according to figures released yesterday by the Department of Finance. Taoiseach Enda Kenny refused to accept the Government’s more optimistic budget forecasts were out of line with the Central Bank and said the real priority was creating jobs.
http://www.irishtimes.com/newspaper/frontpage/2012/0203/1224311178039.html
07.02.2012. 09:28
Newspaper articles - 2nd February, 2012
Thousands of workers due a refund over PRSI - Irish Times
THOUSANDS OF workers are due a refund for overpaying their PRSI over the past three years. The Department of Social Protection has confirmed that €10 million has already been paid back to taxpayers who received an average refund of €385. The overcharging is due to the way in which a health contribution was collected with PRSI. The refund applies to workers who earned less than € 26,000 in 2008, 2009 and 2010 but who earned more than € 500 in any one week in those years.
http://www.irishtimes.com/newspaper/ireland/2012/0131/1224311002707.html
EU seeks change to unfair VRT system - Irish Independent
THE price of imported cars could fall thanks to a new EU ruling that nearly new cars should not be taxed as highly as brand-new ones. The European Commission yesterday requested Ireland change how it taxes imported cars less than three months old or face being taken to the European Court of Justice. They found that levying Vehicle Registration Tax (VRT) at the same rate for brand-new cars and for those under three months old is unfair.
http://www.independent.ie/national-news/eu-seeks-change-to-unfair-vrt-system-3001819.html
Transaction tax would be damaging, says Noonan - Irish Examiner
A financial transaction tax would damage Dublin to the advantage of London, according to Michael Noonan, the finance minister. He said he had no problem with the proposed levy if it applied evenly across the EU, but not if it was res-tricted to the financial zone. France is due to impose such a tax from August, president Nicolas Sarkozy has announced in a bid to try and regain ground in his April re-election bid.
http://examiner.ie/ireland/politics/transaction-tax-would-be-damaging-says-noonan-182308.html
Learning lessons from internal budgetary models - Irish Times
ANALYSIS: WHAT IS a sustainable level of public (and private) debt? Even now, after years of financial crisis and an ongoing, wholesale revaluation of the functioning of the financial system, the answer is not at all clear.
http://www.irishtimes.com/newspaper/finance/2012/0127/1224310801128.html
02.02.2012. 14:36
Refund of Health Levy
The Health Levy only applied to individuals who had annual income in excess of €26,000. In the case of employees, the heath levy was collected automatically through payroll, when weekly pay was in excess of €500.
Hence individuals who earned more than €500 a week for some weeks of the year, but who overall earned less than €26,000 in that year may be entitled to a refund of the Health Levy paid. This is more likely to arise in cases where an individual leaves his employment during the year and/or receives a pay-cut.
Refunds will only be issued for the years 2008, 2009 and 2010. In order to claim a refund, it is necessary to write to the Department of Social Protection at the below address, giving your name, address, PPS number and date-of-birth.
Department of Social Protection
PRSI Refunds
Oisin House
Pearse St
Dublin 2
More information can be found on the Department of Social Protection’s website (follow below link).
http://www.welfare.ie/EN/Topics/PRSI/Pages/refundhealthlevy.aspx
01.02.2012. 09:29
Newspaper Articles - 30th January, 2012
Thousands of workers due a refund after prsi overcharge - Irish Independent
TENS of thousands of people are owed almost €400 each by the Government because they were overcharged for PRSI. More than 100,000 taxpayers have already applied to the Department of Social Protection for refunds worth millions of euro because they were charged too much under the health levy element of PRSI in 2010.
Hire purchase versus leasing machinery the legal and tax angles - Irish Independent
Many farmers and contractors have been unnerved by the spiralling rate of repossessions of farm machinery. While many may not have considered the fine print too carefully on leasing or hire purchase agreements in years gone by, the ruthless manner in which machinery is now being repossessed has left some wondering where they stand from a legal viewpoint if they go down this route with new machinery.
Noonan says no to eu tax fast track - Irish Examiner
Finance Minister Michael Noonan has appealed for the EU to slow down the process of putting a financial transaction tax in place, saying he was not willing to participate if the legislation was pushed through on a fast-track basis.
Resident scheme to lure foreign money - Irish Examiner
Justice Minister Alan Shatter has secured approval for two major immigration initiatives aimed at facilitating migrant entrepreneurs and investors from outside of the European Economic Area. The initiatives are designed to accommodate those who, in return for permission to reside in the state, are prepared to invest here to save or create jobs.
http://www.examiner.ie/news/resident-scheme-to-lure-foreign-money-181321.html
Angry over household charge? Try our rates for size - Irish Times
GERRY MORIARTY VIEW FROM THE NORTH: THERE IS some bemusement in this and other Northern households at the degree of upset and agitation in the Republic at the €100 household charge. In the North a £2,685.60 per annum domestic rates charge is applied at the upper level. That’s €3,221.
http://www.irishtimes.com/newspaper/ireland/2012/0124/1224310672338.html
30.01.2012. 17:13
Deadlines for January and February 2012
Deadlines for January
14 January 2012
- Monthly P30 for December 2011 (deadline is extended to 23 January 2012 when filed via ROS)
- RCT30 Return for December 2011 (deadline is extended to 23 January 2012 when filed via ROS)
- DWT return and filing and payment date for dividends made in December 201
19 January 201
- Bi-monthly VAT 3 Return and payment for the period Nov/Dec 2011
21 January 2012
- Payment of preliminary Corporation Tax for accounting periods ending 28 February 2012 (deadline is extended to 23 January 2012 when filed via ROS)
- Payment of initial instalment of preliminary Corporation Tax (large companies only) for accounting periods ending 31 July 2012 (deadline is extended to 23 January 2012 when filed via ROS)
- Corporation Tax filing deadline for accounting periods ending 30 April 2011 (deadline is extended to 23 January 2012 when filed via ROS)
31 January 2012
- Payment of Capital Gains Tax for disposals made in December 2011
Deadlines for February
14 Feb 2012
- Monthly P30 for Jan 2011 (deadline is extended to 23 Feb 2012 when filed via ROS)
- RCT30 Return for Jan 2011 (deadline is extended to 23 Feb 2012 when filed via ROS)
- DWT return and filing and payment date for dividends made in Jan 2011
15 Feb 2012
- Annual P35 for 2011 (deadline is extended to 23 Feb 2012 when filed via ROS)
- Annual RCT 35 for 2011 (deadline is extended to 23 Feb 2012 when filed via ROS)
21 Feb 2012
- Payment of preliminary Corporation Tax for accounting periods ending 31 March 2012 (deadline is extended to 23 Feb 2012 when filed via ROS)
- Payment of initial instalment of preliminary Corporation Tax (large companies only) for accounting periods ending 31 August 2012 (deadline is extended to 23 Feb 2012 when filed via ROS)
- Corporation Tax filing deadline for accounting periods ending 31 May 2011 (deadline is extended to 23 Feb 2012 when filed via ROS)
20.01.2012. 09:29
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