Revenue is intensifying a project cracking down on tax on share schemes after initial analysis identified several issues with employers and employees. The tax authority told the Sunday Independent it had already collected over €9 million in its National Share Schemes Project, a key compliance project for 2023.
“Revenue has a number of compliance interventions which are ongoing with additional interventions planned to take place throughout 2023,” said a Revenue spokeswoman.Ukraine president Volodymyr Zelensky has criticised a price cap set by his Western allies on Russian oil exports, calling it “weak”. The cap, approved on Friday, is aimed at stopping countries paying more than $60 for a barrel of seaborne Russian crude oil. Russia says it will not accept a cap on prices for its oil exports.
The measure - due to come into force on Monday - intensifies Western pressure on Russia over the invasion. But Mr Zelensky called the price cap “a weak position” and not “serious” enough to damage to the Russian economy.Life-sciences giant Abbott is planning to expand its Cootehill infant formula nutrition facility on the Cavan-Monaghan border, according to the Sunday Independent. The plant played a crucial role in helping the firm address recent massive formula shortages in the United States.
Last week, Abbott Ireland submitted a planning application to Monaghan County Council, seeking to expand the existing facility to provide additional warehouse capacity, a laboratory area, office space and staff facilities over four storeys.Brexit is contributing to a surge in food prices as the country
, a senior Bank of England policymaker has warned, The Guardian reports. Swati Dhingra – the newest member of the Bank’s monetary policy committee , which sets interest rates – also used an interview with theto suggest that the coming run of central bank rate rises should peak below 4.5 per cent, which is the level that some City investors are expecting. “The market is probably underestimating what damage that [level of interest rates] might cause to the UK economy,” she said.
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