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International Business Services Tax
ECB holds its breath as Eurozone growth falters
The Eurozone economy only grew by 0.1% in the second quarter of 2025, a concerning fall from the 0.6% GDP growth recorded in the first quarter (following a revision in June). The outlook for the European economy now looks mixed. Inflation appears to have been tamed, and the European Central Bank’s culmination of interest rate cuts, taking the rate to 2%, has given the Eurozone economy the opportunity to grow.
Professor Joe Nellis David Barry Jul 29, 2025
72 AERIAL
Liquidation
Winding down with confidence: Navigating the liquidation process
Nobody relishes the prospect of liquidating the business that they’ve worked long and hard to build. Whether it’s financial struggles, or a well-deserved retirement we’re here to help demystify the liquidation process and allow you to make the right decisions for your company.
John Russell Jul 28, 2025
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Financial Outsourcing
A fairer approach to audit exemptions for SMEs
On July 16th, 2025, Minister Peter Burke announced a significant change to the audit exemption rules for small and micro companies in Ireland. Going forward, small businesses won't automatically lose their audit exemption after a single late filing of their annual return, if it's the first such lapse in a five-year period.
Patrick Mohan Ashling O’Donovan Jul 21, 2025
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International Tax Retail, Consumer & Hospitality Technology Pharmaceutical and Life Sciences
US hits EU with 30% Tariffs: What it means for Ireland, the UK and Northern Ireland
In a major escalation of transatlantic trade tensions, U.S. President Donald Trump announced on July 12 that the United States will impose a blanket 30% tariff on all goods imported from the European Union, effective August 1, 2025.
Nick Crouch Brendan Murphy Jul 14, 2025
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Tax
Ireland Tax Refresher - Issue 3
In the ever-evolving world of taxation, staying informed and prepared is paramount. We are pleased to present Tax Refresher, our bi-monthly newsletter designed specifically for large corporate and international businesses, to keep you updated on the latest developments and challenges in the tax landscape.
Brendan Murphy Jul 10, 2025
Dublin aerial island
Inflation remains calm but the ECB must remain vigilant
With the latest Eurozone inflation rate coming in at 2% for June, the European Central Bank is hitting its official target. As inflationary pressures continue to ease, inflation could decrease even further for the remainder of this year.
Professor Joe Nellis Jul 9, 2025
Building 008
Tax
Tax trends and economic signals: A strong June for Ireland’s Exchequer
Corporation tax receipts were positive in June, which is very welcome following a surprise year-on-year decline in May. June is an important month for these receipts, as large firms who end their financial years in December face a preliminary tax deadline.
Brendan Murphy Jul 4, 2025
98 BUILDINGS
Retail, Consumer & Hospitality
From milk to meals out: Consumers face rising costs amid trade uncertainty
Amid the imminent threat of US imposed tariffs, the prices of necessities such as groceries and food items continued to increase. Unless the European Union strikes a trade deal with the US, we could be facing double digit price increases on dairy commodities such as milk, butter and cheese. The prices of discretionary items, such as alcohol and tobacco, also experienced noteworthy increases, primarily due to manufacturing costs and excise duties.
Aidan Scollard Jul 4, 2025
29 CRH
Sustainability & ESG
EFRAG Simplification Announcement: Simplifying sustainability reporting should improve environmental data and prevent greenwashing
The European Financial Reporting Advisory Group (EFRAG) has proposed changes to the Corporate Sustainability Reporting Directive (CSRD) to reduce the reporting burden on firms by 50%. Brendan Kean, ESG Partner at Baker Tilly Ireland, believes these changes will improve the quality of environmental data and prevent greenwashing.
Brendan Kean Mark Lumsdon-Taylor Jul 2, 2025
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Major Pillar 2 development: G7 and US reach agreement on global minimum tax
Following a joint statement from G7 countries released over the weekend, it appears that the US Government will remove Section 899 from the “One Big Beautiful Bill” in exchange for concessions provided by the other G7 territories on the OECD’s Pillar II Global Minimum Tax. Irish experts warn, that US tax workaround could harm EU firms, as they could face a competitive disadvantage if the US is given permanent exemptions.
Jul 1, 2025
117 AERIAL
Sustainability & ESG
Climate change - all eyes on the EU Commission
Despite the Global Geological Organisation’s damning report on climate change for 2024, the European Union has recently presented options to member states for ways to ease the proposed 2040 climate target.
Mark Lumsdon-Taylor Jun 30, 2025
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