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Revenue has further extended the deadline for self-assessed income tax returns made online. The Pay and File deadline for submissions made via Revenue Online Service is now 10 December, as opposed to the previous date of 12 November. Revenue said Capital Acquisitions Tax returns relating to gifts or inheritances received in the year to the…

The global economic recovery from the crisis originated by the coronavirus pandemic may take as much as five years, the World Bank’s chief economist Carmen Reinhart said on Thursday. “There will probably be a quick rebound as all the restriction measures linked to lockdowns are lifted, but a full recovery will take as much as…

The Economic and Social Research Institute (ESRI) has found there is limited overlap between the parts of the economy most exposed to Brexit and the parts most exposed to the impact of Covid-19.   In a working paper, the ESRI said that if a no-trade deal Brexit were to occur, more companies overall would be…

The Bank of Japan kept monetary policy steady today and slightly upgraded its view on the economy, suggesting that no immediate expansion of stimulus was needed to combat the coronavirus pandemic.  Markets are focusing on what Bank of Japan Governor Haruhiko Kuroda will say at his post-meeting briefing on how the central bank could work…

The Minister for Finance has confirmed that the Government does not plan to make any changes to income tax, USC or PRSI in October’s Budget.  Paschal Donohoe said it is the view of the Government that it needs to hold the personal tax code steady and use it to respond back to the challenges facing…

The Central Bank has published an analysis of payment breaks taken by mortgage holders and firms which shows the overwhelming majority of borrowers had no problem servicing their loans prior to the Covid-19 pandemic.   The analysis of payment breaks on mortgages is based on data at the end of May from the five main…

Employers’ group Ibec has called on the Government to provide an additional €6 billion in supports for businesses in the upcoming Budget. In a pre-Budget submission, Ibec said the economy “is not yet ready to carry itself” and that the Irish business model faces its most significant challenge in over half a century. Ibec said the Government could and should…

The UK’s restaurant subsidy scheme to support the hospitality sector through the Covid-19 pandemic helped to push the country’s inflation rate down to its lowest rate in almost five years, official data showed today.  UK consumer prices rose by 0.2% in annual terms in August. This was the smallest increase since December 2015 and a sharp…

The Government has pumped too much cash to households during the Covid-19 crisis and should find a way to “extract” money that has ended up in savings accounts, according to the head of employers’ group Ibec. Ibec chief executive Danny McCoy told an event organised by the Dublin Economics Workshop that the best way to…

ánaiste Leo Varadkar has said Ireland may be close to the level “at which we can live with the virus”. He said the overriding imperative right now is to keep the virus suppressed to avoid “if possible” a second lockdown.  The Tánaiste made his remarks at the Dublin Economics Workshop this afternoon.  He said he did…