The tax authority is sending final notices to ‘thousands’ of businesses demanding payment of tax or facing enforcement action – potentially triggering a series of liquidations, the Sunday Independent reports. According to a letter seen by the newspaper, businesses have seven days to pay taxes owed, which in some cases is substantial. Restructuring experts estimate that thousands of notices are issued and say a wave of liquidations is likely after the latest notices.
A finance official leaked confidential details of the sale of Siteserv to Davy
A senior finance ministry official leaked highly confidential information about the Siteserv sale process when he worked for Davy Stockbrokers, the committee investigating the matter has found. The Sunday Business Post reports that Des Carville, who heads the department’s shareholding and financial advisory division, was a corporate financier at Davy at the time of the Siteserv sale and advised the Irish Bank Resolution Corporation (IBRC) on this subject.
Small businesses will get help with energy bills in budget plans
Small businesses are in line for a range of grants and loans in the budget to help cope with soaring energy costs, according to a Sunday Times report. Civil servants and ministers, including Paschal Donohoe, Minister of Finance, and Leo Varadkar, Minister of Enterprise, will offer financial support to viable but vulnerable businesses struggling to survive due to high energy bills. Three separate plans are to be announced in the upcoming budget on Tuesday, September 27.
The town hall has paid 34 million euros to a hotel group to accommodate the homeless
Dublin City Council has paid a hotel group more than €34million over four years for emergency accommodation for the homeless, according to the Sunday Times. Dalata Hotel Group, Ireland’s largest hotel operator, owner of Clayton and Maldron Hotels, received €34,577,256.01 between 2018 and last year, peaking in 2019 at €12,898,243.25. The Dublin Region Homeless Executive (DRHE) is responsible for contracting hotels and other properties for emergency accommodation for Dublin’s four local authorities. Emergency accommodation for homeless families has been scarce since 2015. Most homeless shelters are only suitable for single people, the DRHE has been forced to accommodate families in hotels, booking in block of rooms at fixed rates.
Croke Park manager slams hotel industry ‘opportunism’
The manager of Croke Park has accused the hospitality industry of “opportunity” in raising prices ahead of major events and called on the government to put pressure on the industry over its prices. Speaking to the Sunday Business Post ahead of the Garth Books concerts, which take place at the stadium this weekend and next, Peter McKenna said hotels raising prices ahead of big events were not helping the tourism industry and events.
Government refuses to release key pre-budget forecast early despite calls from all parties
The publication of a white paper on financial forecasts ahead of the 2023 budget has been refused by the government despite repeated calls from two cross-party commissions, according to the Sunday Business Post. The Oireachtas Finance and Budget Control Committees have both written to the Department of Finance in recent months calling for the expeditious release of the document, which provides the expenditure and revenue forecasts that underpin the budget, which is to take place two weeks earlier than usual this year. .