Seen and heard: Turleys buy out partner in Hungary

Revenue examining whether e-tailers selling through Amazon and eBay are avoiding VAT

 Irish officials collaborating with European counterparts on whether  overseas e-retailers are using Amazon and eBay to avoid paying the State VAT on products sold to Irish consumers. Photograph: Alan Betson

Irish officials collaborating with European counterparts on whether overseas e-retailers are using Amazon and eBay to avoid paying the State VAT on products sold to Irish consumers. Photograph: Alan Betson

 

Hungarian venture The Turley family

has bought out US firm Fagen’s 50 per cent share of their joint venture, Ethanol Europe Renewables, says the Sunday Times. The Hungarian venture, one of Europe’s biggest producers of bioethanol, has revenues of about €170 million. The Turleys previously sold CarTrawler for about €100 million.

Avoiding VAT

Sunday TimesAmazoneBay

The Sunday Business Post reports that just 1 per cent of civil servants had the payment of increments withheld in 2014 for poor performance. Only 148 of the 30,000 workers in Government departments received a review score of less than three out of five, following which pay increments are blocked.

The Sunday Business Post also suggests that the Government’s Economic Management Council, effectively a sub-committee of the four most senior members of Cabinet, may be disbanded. The paper says Tánaiste Joan Burton has signalled that there is no need for the so-called “war cabinet” as the State’s finances return to stability.

Mortgage defaults

Central BankSunday IndependentPhilip Lane

The Sunday Independent also says bidders for the State-funded National Broadband Plan tender have been warned by the Government that the contract will be subject to a series of “moving goalposts”. The Department of Communications has told bidders that large parts of rural Ireland may be withdrawn from coverage by the State scheme in the next two to five years, as private operators move in.