Amazon, Google, Microsoft warn data center plans will put country at a disadvantage Irish Times

Amazon, Google and Microsoft have warned that the country is likely to lose significant investment if it fails to address constraints in Ireland's power grid, Business Post reports.

Tech giants have major concerns about Ireland's ability to drive future data center growth as restrictions on connectivity requests from large companies continue.

In a recent document seen by the newspaper, industry group Cloud Infrastructure Ireland, which represents the three companies, objected to several aspects of a new proposed policy that would determine how data centers are connected to the electricity grid. . The group said proposals put forward by the Utilities Regulatory Commission to restrict data centers would send a signal to the market that parts of Ireland were being closed to new investment and business growth. .

Receivables warehouse storage

Companies participating in the Revenue Debt Warehouse Scheme will be forced to settle their pandemic debts in full unless they clear other outstanding tax matters by May 1, The Sunday Times reported.

The latest revenue guidelines for setting up staged payments to clear debts on time means your application will be rejected if there are unpaid taxes, unpaid penalties or interest, or if no return has been filed. It is stated that it will be done.

The rules mean that businesses that still have to agree long-term payment plans with the Department of Revenue have a grace period of three weeks to sort out their tax affairs or face immediate payment and past interest charges. means.

Intel grants and credits

Newly submitted financial records have been revealed, the Sunday Independent reported.

This suggests that Intel will benefit from at least $322.5 million in subsidies and refundable tax credits from Ireland. These relate to a significant expansion of the company's silicon wafer manufacturing facility in Leakelip, County Kildare.

The $17 billion investment in this facility is one of the largest ever made in the state.

An Intel spokesperson told the newspaper that initiatives such as research and development tax credits and subsidies provided a competitive advantage to companies carrying out cutting-edge technology activities in Ireland.

Estimated budget

The threshold for the top tax rate is set to rise to at least 44,000 in this final government budget, a senior Coalition government official confirmed to Business Post.

The newspaper reports that the next budget will include very significant tax changes, with a focus on changes to support low- to middle-income earners, a reduction in the universal social contribution, further energy deductions, and increases in superannuation. It is expected to be included.

Senior officials across the coalition have indicated they intend to increase the threshold for the 40% rate of tax from 42,000 to at least 44,000 people. The standard tax rate for income tax reduction points in this tax bracket was increased in Budget 2024, with the entry point going from 40,000 to 42,000.

Clerys Developer Refinance

The developer of O'Connell Street's Cleris Quarter is aiming to refinance the landmark project's external debt by September, The Sunday Times has reported.

The OCES Property Holdings account says a process is underway to consider the best course of action regarding refinancing. A financier called Green Oak has a debt of 34.6 million yen, which is due to be repaid in September last year.

Development on the site of the former division will continue to be supported by an investment from the owner, a fund managed by real estate investment management company Europe.

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