Pearse Trust Blog

The Organisation for Economic Co-operation and Development (OECD) published a report on 10 May 2012, detailing the tax burdens imposed on employment income across the 34 OECD countries.

Following concerns expressed by the French, German and UK Governments about the use of Base Erosion and Profit Sharing schemes (“BEPS”) by multinational companies, the Organisation for Economic Co-operation and Development (“OECD”) has published a report detailing the pertinent issues involved.

In our previous blog post entitled ‘Acceleration of UK Corporate Tax rate Reductions’, we discussed the announcement in Budget 2012 of the decision to accelerate the reduction in the main UK Corporation Tax rate from 26% to 24%, with effect for the financial year commencing 1 April 2012.

Vikram Pandit, the chief executive of Citigroup, was recently asked to break down the emerging markets that had contributed to strong financial results for the third-biggest US bank. The first country he pointed to was Mexico.

This is a guest post written by Ruth Skehan of Fitzwilliam Tax Consultants

On Wednesday 5 December 2012 Ireland’s Minister for Finance Michael Noonan T.D. will deliver his second budget speech to Dáil Éireann.  Under the terms of the programme, agreed with the EU / IMF / ECB, Ireland is required to adjust downwards its public sector deficit by approximately €3bn in 2013. This adjustment will be effected by means of a mix of public spending cuts and revenue raising measures.

The Tax Transparent Fund (TTF) is a new authorised collective investment scheme structure introduced in the United Kingdom on 17 July 2012.

22 June 2012 saw the publication of the Microenterprise Loan Fund Bill 2012 by Minister for Jobs, Enterprise and Innovation, Richard Bruton T.D.

At the end of May 2012 the IFIA (Irish Funds Industry Association) announced  that assets serviced by the Irish funds industry have reached an all time high of *€2 trillion.

When the financial crisis of 2008 began Mexico suffered the steepest recession of any country in the Americas, bar some of the smaller Caribbean countries. Its economy shrank by 6.1% in 2009. Between the third quarter of 2008 and the second quarter of 2009, 700,000 jobs were lost.  In the ten years to 2010, income grew by just 0.6% a year, one of the lowest rates in the world.