Revenue is issuing final notices to “thousands” of companies demanding payment of tax or face enforcement action – which could trigger a raft of liquidations, the Sunday Independent reports. According to a letter seen by the paper, businesses are being given seven days to pay tax owed, which in some cases is substantial. Restructuring experts believe thousands of notices are being issued and say a wave of liquidations is likely after final notices.
Finance official leaked confidential Siteserv sale details while at Davy
A senior civil servant in the Department of Finance leaked highly confidential information on the sales process for Siteserv when he worked for Davy stockbrokers, the Commission of Investigation into the deal has found. The Sunday Business Post reports that Des Carville, who is head of the department’s shareholding and financial advisory division, was a corporate financier at Davy at the time of the Siteserv sale and was advising the Irish Bank Resolution Corporation (IBRC) on it.
Small businesses to receive help with energy bills in budget plans
Small firms are in line for a range of grants and loans in the budget to help with the soaring cost of energy, a report in the Sunday Times says. Officials and Ministers, including Paschal Donohoe, the Minister for Finance, and Leo Varadkar, the Minister for Enterprise, will offer financial support for viable but vulnerable businesses struggling to survive due to high energy bills. Three separate schemes are to be announced in the forthcoming budget on Tuesday, September 27th.
City council paid €34m to hotel group to take in homeless
Dublin City Council has paid one hotel group more than €34 million in four years for emergency homeless accommodation, according to the Sunday Times. Dalata Hotel Group, Ireland’s largest hotel operator, which owns the Clayton and Maldron hotels, was paid €34,577,256.01 between 2018 to 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 the four Dublin local authorities. There has been a scarcity of emergency accommodation for homeless families since 2015. With most homeless hostels suitable only for single people, the DRHE has been forced to accommodate families in hotels, block-booking rooms for set rates.
Head of Croke Park hits out at hotel industry’s ‘opportunism’
The director of Croke Park has accused the hotel industry of “opportunism” by increasing prices ahead of big events and called on the Government to put pressure on the sector over its pricing. Speaking to the Sunday Business Post ahead of the Garth Books concerts, which are taking place at the stadium this weekend and next, Peter McKenna said hotels raising prices ahead of big events was not helping the tourism and events industry.
Government refuses to publish key pre-budget forecasts early despite cross-party calls
The publication of a White Paper on financial forecasts ahead of Budget 2023 has been refused by the Government despite repeated calls from two cross-party committees, according to the Sunday Business Post. The Oireachtas committees on finance and budgetary oversight have both written to the Department of Finance in recent months seeking the early publication of the document, which provides the expenditure and revenue forecasts underpinning the budget, which is to take place two weeks earlier than usual this year.
