Pearse Trust Blog



UK Recession Recedes

Posted by Pearse Trust on Wednesday, Aug 20, 2014

According to the latest media reports, recently released official data from the Office of National Statistics (”ONS”) has confirmed that UK national output has increased to beyond the high-point achieved before the commencement of the financial crisis over six years ago. The occurrence of such an event was previously estimated to occur during the course of 2015.

Notably, Gross Domestic Product (“GDP”) grew by 0.8% in the three months to the end of June, resulting in the UK economy being 0.2% larger than at its height before the recession.

These positive figures from the ONS were released shortly after the International Monetary Fund (“IMF”) forecast that the UK will be the fastest-growing major economy in the world in 2014.

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Tags: United Kingdom, Economy

UK Workplace Pensions – An Outline

Posted by Pearse Trust on Wednesday, May 28, 2014

Commencement

Since October 2012, a government scheme is being implemented  to enrol every worker who meets the eligibility criteria into a workplace pension. Eligible workers are all employees aged between 22 and state pension age and earn more than the minimum earnings threshold set at £10,000 for 2014/15.

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Tags: United Kingdom, Economy, Pensions

OECD Plans For The Automatic Tax Information Exchange Worldwide

Posted by Pearse Trust on Monday, Mar 31, 2014

The Organisation for Economic Co-operation and Development (“OECD”) recently unveiled plans for a new single global standard for the automatic exchange of tax information, following calls from G20 leaders to increase pressure on those evading taxes and to create trust and fairness in the international tax system.

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Tags: Tax, EU, Economy

Ireland's Budget 2014 – The Main Tax Points

Posted by Pearse Trust on Monday, Oct 21, 2013

After five years of austerity, Ireland as a nation is well on the path to economic recovery. On 15 October 2013, the Minister for Finance Michael Noonan delivered Ireland’s Budget for 2014 (“the Budget”). It is anticipated that the Budget will be one of the final steps to be taken by the Irish government to secure Ireland’s exit from the bailout programme and restore the country’s economic sovereignty.  

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Tags: Ireland, Debt crisis, Economy, Finance

OECD Report On Increasing Employment Taxes

Posted by Pearse Trust on Wednesday, May 08, 2013

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.

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Tags: Ireland, Tax, Economy

OECD Report Addressing Base Erosion And Profit Sharing

Posted by Pearse Trust on Monday, Apr 01, 2013

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.

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Tags: Ireland, Tax, Economy

UK – A Low Tax Jurisdiction?

Posted by Pearse Trust on Monday, Jan 28, 2013

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.

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Tags: United Kingdom, Tax, Economy

Business Culture: Tips For Doing Business In Mexico

Posted by Pearse Trust on Monday, Jan 21, 2013

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.

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Tags: Economy, Mexico

Ireland’s Budget 2013 – An Overview Of The Key Tax Points

Posted by Pearse Trust on Monday, Dec 10, 2012

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

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Tags: Ireland, Tax, VAT, Economy, Guest Blogger

Budget 2013 – Continuing Ireland’s Recovery

Posted by Pearse Trust on Monday, Nov 05, 2012

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.

While Budget 2013 will contain measures to widen the tax base and increase the take to the Exchequer, the commitment to the 12.5% Corporation Tax rate remains firm. 

Tax Receipts

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Tags: Ireland, Tax, EU, Economy, Finance