Finance (No.2) Bill, 2011

The Irish Government published Finance (No.2) Bill on 19 May. The main purpose of the Bill is to legislate for the tax changes made in the Government’s jobs initiative.   VAT The Bill provides for a second reduced rate of VAT of 9%. The 9% rate will be temporary running from 1 July 2011 to…

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The new dot com bubble has just got bigger

First Facebook, then Twitter and now Skype. In a previous blog entry I wrote about how valuations put on Facebook and Twitter indicated to me that another dot com bubble was brewing. The latest to join them is Skype with news of an $8.5bn deal with Microsoft. Ebay bought Skype in 2005 for $2.6bn. in…

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VAT for start-up business

Joe sets up a business in January. The business is selling widgets to consumers. None of his sales are to businesses. In January he forecasts his annual turnover to be €35,000. He is not required to register for VAT so decides not to. Joe spends €10,000 plus VAT of €2,100 on new equipment. The cost…

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