In domestic news, on 20 July 2022, the Central Bank of Ireland (CBI) published the results of the most recent bank lending survey in Ireland. Banks recorded a moderate deterioration in their access to wholesale funding, in particular in access to medium and long-term securities over the last quarter.
FinanceThe Irish merger control authority (i.e. the Competition and Consumer Protection Commission (CCPC)) has been given a significant new power of merger control intervention under the recently-enacted Competition (Amendment) Act 2022 (Act).
EU, Competition & ProcurementCrowdfunding has gathered pace in recent years as an attractive alternative to traditional forms of finance typically offered by banks. The commencement of the Crowdfunding Regulation simplified the offering of crowdfunding services across the EU and facilitated efficient scaling of services by crowdfunding service providers.
FinanceIn July 2022, a group of 13 environmental NGOs (including ClientEarth, Greenpeace and WWF) issued legal proceedings against the Flemish authorities challenging a permission granted to British petrochemical company Ineos for a plastics manufacturing facility at the Port of Antwerp.
Environmental & PlanningSince the enactment of the ILR, the Irish Revenue Commissioners, in consultation with interest parties, have been working on accompanying guidance.
TaxThe Central Bank of Ireland (CBI) has now (3 August 2022) published its anticipated Consultation Paper on proposed Guidance for (Re)Insurance Undertakings on Climate Change Risk (the Guidance).
ESG & SustainabilityIreland's long-awaited investment screening legislation was published earlier today. The Screening of Third Countries Investment Bill (the Bill), once enacted, will introduce a screening mechanism for foreign direct investment (FDI) into Ireland.
Corporate & M&AA new cartel leniency regime is set to be introduced in Ireland under the Competition (Amendment) Act 2022 (the 2022 Act), which will allow cartel members to benefit from reduced penalties by coming forward to the Competition and Consumer Protection Commission (CCPC) and admitting their wrongdoing.
EU, Competition & ProcurementMenopause is increasingly on the agenda as a workplace issue and employers who fail to support their menopausal employees risk claims being brought under both health and safety and discrimination legislation.
ESG & SustainabilityThe Department of Finance has now published the long-awaited Central Bank (Individual Accountability Framework) Bill 2022.
ESG & SustainabilityEarlier this year, Ireland implemented the interest limitation rule (ILR) with effect from 1 January 2022. The ILR stems from Council Directive (EU) 2016/1164 (ATAD) and aims to limit the deductibility of interest payments and to battle tax avoidance through excessive interest payments.
TaxHave you been pro-rating / using the 12.07% method to calculate holiday pay for permanent part-year/ casual/ zero hour workers?
Employment & Incentives Belfast
