Latest news with #taxation
BreakingNews.ie
7 hours ago
- Business
- BreakingNews.ie
Ireland is the second most expensive EU country, figures show
Ireland is the second most expensive country in the European Union — behind only Denmark — with prices just over 38 per cent above the average in the bloc, according to new figures from Eurostat. Data from the EU's statistical agency show that back in 2015 prices in Ireland were 28 per cent above average. Advertisement When it comes to alcohol and tobacco, prices in Ireland are the most expensive in the EU at 205 per cent of the EU average. Much of this is due to Government taxation, and more recently, minimum unit pricing on alcohol. For alcohol alone, prices are the second highest in the EU — after Finland — at almost 198 per cent of the EU average. Food and non-alcoholic drink prices in Ireland are the third highest in the EU, behind Luxembourg and Denmark, at almost 15 per cent above average. However, this is an improvement on recent years, as prices were over 21 per cent above average in 2020. Restaurant and hotel prices are the second highest in the EU, behind only Denmark, at 29 per cent above average. Advertisement Communications costs are almost 40 per cent above average. Ireland is also the third most expensive country for electricity, gas and fuel with prices over 17 per cent above average. Meanwhile, clothing prices are actually 1 per cent below the EU average and cheaper than in Lithuania, Latvia and Poland. Meanwhile, the price of furniture, carpets and flooring is only 6 per cent above average, while the cost of household appliances is 9 per cent higher. Non-EU countries Iceland, Norway and Switzerland were also included in the research and generally have prices higher than Ireland. Daragh Cassidy from price comparison site said the figures confirmed the widespread belief that Ireland is an expensive country. Advertisement "There are several reasons why prices here are so high," he said. "These include: our higher wages, a lack of competition in certain sectors, high taxation on certain goods such as tobacco, alcohol and fuel, and lower government subsidies in certain areas such as public transport and childcare compared to our European neighbours. Business Cost of living in Ireland: How quickly are prices... Read More "Businesses are also faced with high insurance and energy costs, which then get passed on to consumers. "Ireland will never be a cheap place to live. And it's worth noting that many of the world's most expensive countries such as Switzerland, Iceland and Denmark also have some of the highest standards of living in the world. "The problem is that wages in Ireland, while high by international standards, generally don't match the salaries in these countries. At the same time, taxpayers in more expensive countries tend to get back more from the Government in terms of better and more affordable healthcare, childcare and public transport — though there have been welcome improvements made here in Ireland in recent years. Advertisement "At a minimum, the Government should look at measures that are within its control to lower the impact of high prices and the cost of living in Ireland."
Yahoo
8 hours ago
- Health
- Yahoo
Correction to June 18 story on study of Newfoundland and Labrador's 'sugar tax'
In a June18 story about a study examining Newfoundland and Labrador's tax on sugar-sweetend beverages, The Canadian Press erroneously reported that 24 per cent of survey respondents said they were less likely to buy sugary drinks. In fact, survey respondents had 24 per cent lower odds of drinking taxed sugary drinks in any given week. This report by The Canadian Press was first published June 19, 2025 The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Auto Express
12 hours ago
- Automotive
- Auto Express
New Ford Ranger PHEV 2025 review: plug-in pick-up sets the standard
The Ford Ranger PHEV manages to deliver lower emissions that will benefit business users while still offering all of the cargo carrying and towing capability that the standard diesel model can offer. For that reason alone the PHEV will be a top choice with buyers, while the Stormtrak trim has some added visual appeal that will draw more customers in. Advertisement - Article continues below As it stands, there's not much wrong with the Ford Ranger, but changes in legislation mean that this big-selling machine is in need of a revamp to help it keep pace with buyer demands. Emissions are now an important factor when it comes to business taxation, and the arrival of the new Ranger PHEV will be the perfect double-cab pick-up for those keen to keep their contributions to the taxman as low as possible. From the outside, not a lot looks different, although the new Stormtrak trim is exclusive to the PHEV model (it also comes in XLT and Wildtrak trims), Chill Grey is a cool blue hue that's unique to the Stormtrak (black is also offered), while there are unique wheel designs to mark the petrol-electric model out. The Stormtrak also has the option of a sliding sports bar that allows racks to be attached above the cargo bed, while Ford's Pro Power system allows users to connect any device with a three-pin plug to the truck's drive battery - which could come in handy for anybody wanting to take the Ranger off grid and out into the wilds. Skip advert Advertisement - Article continues below View Corsa View X3 View I-PACE The other visual clue to the alternative powertrain is the fact there are two filler flaps on the nearside rear wing. One (the one with a lightning bolt set into it) pops open to reveal the charging port for the drive battery, while the other flap ahead of it is the fuel filler, which is released with the push of a button on the dashboard. Advertisement - Article continues below These are used to refill an 11.8kWh battery and a 70-litre fuel tank respectively, with the latter supplying petrol to a 2.3-litre turbocharged four-cylinder that we've seen previously in the UK in the Ford Focus RS/ST and Mustang. The set-up in the Ranger PHEV makes 277bhp and 697Nm of torque, so the plug-in model is second only to the petrol Ranger Raptor for power, while Ford's familiar 10-speed automatic gearbox is fitted as standard. There's a 0-62mph time of 9.2 seconds, while the Ranger PHEV also boasts a towing weight of 3.5 tonnes and a payload of more than a tonne, so there are no compromises there when compared with the diesel versions. One area where there is a bit of compromise is with the load bed, because there is a subtle rise in the floor that is designed to help accommodate the drive battery. That means cargo volume isn't quite a match for the diesel Ranger, but it's not far behind. Skip advert Advertisement - Article continues below This might be a small enough price to pay for business users looking to cut their outgoings. Previously, double cab pick-up trucks faced a flat rate of Benefit-in-Kind taxation (currently set at £3,960pa for vans weighing less than 3.5 tonnes), but now the rates are calculated based upon emissions. Seeing as diesel double cab pick-ups are quite heavy polluters, that places them in the top emissions-based category for BiK at 37 per cent. For top-rate earners, that means tax bills in the region of £7,000 for a diesel Ranger Wildtrak, but the 71g/km emissions of the PHEV mean costs are slashed to £4,600 a year. So that's the reason for introducing the Ranger PHEV, but what's it like to drive? In brief, pretty much like any other automatic Ranger. The combination of electric motor and petrol engine is good, with the former delivering instant responses while the engine gets up to speed, and the petrol engine is reasonably hushed and distant when it does cut in. The powertrain is decent, with no real shunt between drive sources, and the brakes are positive, too, with plenty of stopping power. Advertisement - Article continues below In corners the Ranger gives the game away in terms of weight, but while there's some body roll, it's no worse here in the heavier PHEV than in the standard car. The ride is pretty compliant, too, although the slow steering and a slightly bouncy edge at higher speeds means the Ranger could be a bit more comfortable, but then it's no worse than a lot of supposedly family-friendly SUVs. Skip advert Advertisement - Article continues below The usual suite of drive modes is selectable via the push-button controls down behind the drive selector, including an EV button that allows you to either drive the PHEV in standard hybrid mode – switching between power sources as the electronics see fit – switch to silent EV running, save the charge for later or recharge the battery using the engine while on the move. We wouldn't say the latter is particularly economical, but can give you some extra charge if you need it. We tried the Ranger PHEV off-road, where it proved to be just as adept as the standard model. That means the long-wheelbase struggles a little with a series of ruts that can see the side steps scrape the ground, but otherwise the Ranger is surprisingly capable. There's something eerie about driving an electric 4x4 in virtual silence, only hearing the surrounding countryside crack and scrunch as you drive through. The Ranger's standard-fit high range 4WD and rear diff lock can function while in EV mode, but low-range sees the engine cut in to assist at all times. Either way, the only other limiting factor might be the petrol engine's exhaust, which points down to the ground behind the rear axle, and looks low enough that it might scrape when exiting a particularly steep transition. Model: Ford Ranger 2.3 EcoBoost PHEV Stormtrak Price: £49,800 ( On sale: Now Powertrain: 2.3-litre turbo petrol PHEV Power/torque: 277bhp/697Nm Transmission: 10-speed automatic, four-wheel drive 0-62mph: 9.2 seconds Top speed: TBC EV range: 25.5 miles Economy/CO2: 94.2mpg/71g/km Size (L/W/H): 5,370/2,015/1,878mm New Volvo EM90 2025 review: the ultimate SUV killer New Volvo EM90 2025 review: the ultimate SUV killer Volvo has made an ultra-luxurious van. Intrigued? You should be, but sadly it's for China only Smart Roadster could return as an electric Mazda MX-5 rival Smart Roadster could return as an electric Mazda MX-5 rival The Smart Roadster could be set for a comeback and our exclusive image previews how it could look New Audi Q3 reinvents the indicator stalk, but there's a whole lot more too New Audi Q3 reinvents the indicator stalk, but there's a whole lot more too Audi's not taking any risks with its all-new Q3; watch it sell like crazy
Yahoo
12 hours ago
- Business
- Yahoo
No tax hikes for public as reforms bear fruit, says PMO
KUALA LUMPUR, June 19 — The Prime Minister Office's (PMO) said today that the government is committed to economic reforms but not at the expense of placing additional taxes on the general public. In today's livestream delivered by the senior press secretary to the prime minister, Tunku Nashrul Abaidah, he said the government remained committed to reforming the economy and bureaucracy while ensuring that all policies ultimately benefit the people. 'Malaysia is among the countries with the lowest tax to GDP ratio in the world which is around 12 per cent. This means revenue space remains small and tax based expansion is needed to ensure the country's fiscal sustainability. 'However the government's principle is clear whereby the burden of this will not fall on the wider public,' he said. Nashrul said that tax revenues were reinvested into pro-people programmes like RM13 billion allocated to the Sumbangan Tunai Rahmah and Sumbangan Asas Rahmah reaching nine million recipients. Another RM400 million had gone to refurbish ageing clinics and more than RM600 million spent to fix more than 8,000 school toilets benefitting close to five million students. Apart from that, Malaysia's jump from 34th place to 23rd in the 2025 World Competitiveness Ranking (WCR) marked its best performance since 2020. PMO said this was down to more than 1,000 initiatives under the Reformasi Kerenah Birokrasi to streamline public service delivery. Malaysia also recorded RM89.8 billion in approved investments in the first quarter of 2025 a 3.7 per cent increase from the same period last year. These investments are expected to generate 1,600 new projects and over 33,000 job opportunities nationwide. In the microelectronics and semiconductor sector alone Malaysia secured RM4.6 billion in investment potential and RM507 million in export potential through its participation in Semicon South-east Asia 2025. 'These numbers reflect strong investor confidence in Malaysia's reform direction,' the PMO added.
Malay Mail
13 hours ago
- Business
- Malay Mail
Govt to clarify expanded SST, won't burden M40 or lower-income groups, says PM Anwar
ISKANDAR PUTERI, June 19 — Prime Minister Datuk Seri Anwar Ibrahim said the government will provide a more detailed explanation regarding the expanded Sales and Service Tax (SST), which will take effect on July 1. He acknowledged that there was confusion regarding the expanded tax and the government aims to ensure that its implementation will be done in a targeted manner. 'I agree that the government needs to give an explanation and to clarify the matter. 'What is important is that we do not want to burden the lower-income groups or the M40,' he told reporters after attending a close-door Johor PKR leadership event held at the Mall of Medini here today. The prime minister attended in his capacity as the PKR president. Anwar, who is also the finance minister, explained that previous general statements on the expanded SST had also caused some confusion. He gave an example of a statement saying that bananas were soon subjected to the SST, but clarified that this only applied to imported bananas. 'This issue has created some confusion where the public argued that even the poor consume fruits. 'This is an area where the government can address to the public in addition to making one or two changes,' he said. Anwar said taxation was an important feature for the government as it will see to better schools and public hospitals. 'We have to think of where the government can get funds to maintain public hospitals with better facilities and improved school buildings,' he said, adding that such taxes are mainly for those that are in the higher income bracket and foreigners.
