Covid-19 is a significant threat to many and we have to play our part in helping to reduce the spread of the virus. Just like you, the wellbeing and safety of our people is our priority and therefore we have taken steps to protect our people and follow public health advice. We know that this will also be a very challenging period for business and we are here to support you and your business through these unprecedented times with our knowledge and experience.
Insights on Covid-19
Article: React - OECD releases digital tax blueprints
On 12 October 2020, the OECD released over 900 pages of documents related to its years-long effort to address the challenges of taxing the digital economy. The impetus for this effort was the recognition that existing tax systems do not adequately address the digital world in which economic activity is independent of physical presence.
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Newsletter: World Wide Tax News - Issue 56 - October 2020
The Covid-19 pandemic continues to preoccupy governments and business throughout the world. In the latest edition of World Wide Tax News, our BDO Global colleagues include articles on the Covid-19 related implications for the United Kingdom’s Corporate Criminal Offences legislation, and enhanced loss carry-back measures in the Czech Republic.
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Expert Commentary: Budget 2021
Unprecedented times called for an unprecedented Budget and that is what Ministers Paschal Donohue and Michael McGrath delivered from the Convention Centre Dublin. At a total budgetary package of €17.75bn, Budget 2021 is the largest in size and scale in the history of the State with €17bn of that package going on expenditure.
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Angela Fleming features in the Law Society Gazette Ireland
The Aviation sector has been faced with unprecedented challenges since the offset of the Covid-19 pandemic with current restraints against the reopening of the sector signaling significant losses amongst those involved in the sector. Angela Fleming, Tax Partner at BDO Ireland, recently joined Tully Rinckey Ireland for a webinar on the rebuild of the Aviation Sector.
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Newsletter: Indirect Tax News Issue 3/2020 - October 2020
In issue 3 | 2020, our BDO Global colleagues report on the significant developments and changes in behaviour, as a result of the Covid-19 crisis, that have led to shifts in focus for tax authorities. In Ireland, as part of the July 2020 stimulus package, the Irish Tax Authorities have announced the introduction of a temporary reduction in the standard VAT rate from 23% to 21% until 28 February 2021.
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React | Expect 2021 to bring post-COVID corporate tax reform
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The latest insight series in the Rethink – Transfer Pricing is now live on our website. Irish businesses should be mindful that the OECD is leading a global project designed to increase the amount of corporate income taxes paid by international companies. Warren Novis, Head of Transfer Pricing, profiles the imminent need for countries to introduce new tax legislation in order to balance the deficits driven by COVID-19.
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Tourism, Hospitality & Leisure Debt Advisory Services
Covid-19 has led to many businesses coming under pressure to manager their cost base and working capital, while continuing to meet their debt bligations. Download our Tourism, Hospitality & Leisure | Debt Advisory Services brochure to find out more about the current market situation, our integrated service offering and a sample of some recent assignments we have worked on.
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BDO Optimism Index 2020 Q2
The findings of our most recent optimism index shows that 75% of businesses are reporting lower levels of activity. The index is a continuous survey carried out for the last eight years, tracking business performance and the views of business leaders across Ireland. Download our most recent survey below and find out how Covid-19 is impacting business employment, pricing and optimism.
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BDO Debt Advisory Services
Ensure your business has the financial resources to rebound and recover. 
Since the onset of the Covid-19 pandemic many borrowers have come under pressure to manage their cost base and working capital, while continuing to meet their debt obligations. Such financial pressures have applied to almost all industries and sectors across the economy.
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BDO Horizons 2020 - Issue 3
In the latest edition of BDO’s quarterly global mid-market M&A review, our global experts take a close look to an M&A world heavily impacted by Covid-19. In the UK & Ireland, the drop in M&A activity has been more evident in Q2. Download Issue 3 for up to date commentary on deal activity levels, active sectors and in-depth analysis on potential activity in the next few months.
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UPDATE - Legislation published for the new Employee Wage Subsidy Scheme
The necessary legislation has now been published for the introduction of the new Employee Wage Subsidy Scheme which will operate from 1 July 2020 to 30 March 2021. Read our summary of the scheme below, including the qualifying conditions for both employers & employees, the subsidy rates and the PRSI treatment.
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July Stimulus Package
On Thursday, 23rd July, the Government announced the July Jobs Stimulus, a €7.4 billion package of direct expenditure, tax measures and credit guarantees aimed at stimulating a jobs-led recovery and to help build economic confidence while continuing to manage the impact of COVID-19. Click below to view our BDO analysis on the impacts of the stimulus on the Irish economy.
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Final Report of the Aviation Recovery Taskforce
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The final report was delievered by the taskforce on 10 July. In its final report, the taskforce makes a total of 12 recommendations, categorised into three sections. Angela Fleming, Partner, has summarised these in the below.
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Covid19 | A Local Authority Roadmap to Respond, Renew & Recover
Local Authorities are in a challenging position at the moment as sectors have experienced various scale of loss from trained staff, business model impacts, scale of reopening costs, supply chain disruption, and balance sheet rebuild to name a few. A vision must now be set for what recovery and the future will look like for our communities. DOWNLOAD our Roadmap to view our recommendations for the sector and how the BDO Public Sector Team can assist in finding a solution for you.
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Rethink - Transfer Pricing | React | Resilience | Realise
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BDO Global recently launched their RETHINK campaign, a framework that includes 3 stages and will provide guidance to businesses navigating the Covid-19 crisis. With many businesses still in survival mode, REACT to survive is stage 1; with the first series of insights coming from our BDO Global Transfer Pricing Experts. Click below to read the inaugural Edition of BDO’s Transfer Pricing Insight.
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Interim Report of the Aviation Recovery Taskforce
The special taskforce established by the Minister for Transport, Tourism and Sport, Shane Ross, to develop a plan for aviation recovery, recently delivered its Interim Report to the minister. Angela Fleming, Partner, outlines the reccommendations delivered in the Report below.
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Aviation Recovery Plan
The Minister for Transport, Tourism and Sport, Shane Ross, recently announced a proposal to establish a Task Force for Aviation Recovery. Angela Fleming, Partner, discusses this announcement, the current state of the aviation industry and the publication of the Aviation Recovery Plan by the department for Tourism, Transport and Sport below.
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VIDEO: Covid-19 | Preparing your Cash Flow Forecast
The Covid-19 pandemic has led to a renewed focus on liquidity management for businesses. The time to develop a cash flow forecast in order to determine future funding requirements and plan for recovery is here. Click below to view our video, highlighting some of the key considerations in preparing your cash flow forecast.
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Covid-19 | A 12 point plan to support recovery in Ireland’s tourism sector
The tourism and hospitality sector has been hit hard by Covid-19. The roadmap set by the Government will provide the framework for recovery of many businesses in the tourism sector; however, this in itself will not be enough. Our 12 point plan outlines the key measures that we reccommend key stakeholders across the sector must consider to support its recovery.
Planning to Emerge
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Now is the time for you to start your planning for a successful re-emergence of your business from Covid-19. While each business will have a different focus and need, we highlight some key areas that you should consider. Download our brochure to find out more or contact John Loughrey, Head of Project Management Services, at [email protected].
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Microsoft Teamwork Training & Optimisation
We are now facing a new culture of organisations working remotely as a necessity rather than a privilege. Microsoft Teams allows you and your teams to collaborate effectively from diverse, remote locations. Our experts ensure that you get value out of Microsoft Teams. Read more about the benefits and our solutions below or contact
[email protected]
BDO Indirect Tax News - Issue 2/2020
BDO Indirect Tax News focuses on issues of practical importance in the field of VAT and similar indirect taxes, such as GST. Experts from all over the world provide first-hand information on recent developments in legislation, jurisdiction and tax authorities’ opinions and directives. This issue takes a look at the various VAT measures countries all over the world have taken in light of COVID-19
Covid-19 Online Retail Scheme
The Department of Business, Enterprise and Innovation has proposed a Competitive Fund in response to the COVID-19 crisis and to enable Irish-owned retailers to enhance their digital capability. Download our brochure to find out if you are eligible for the scheme, reasons to apply, and how BDO can help you with the process.
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COVID-19 Supports Available
As the COVID-19 pandemic unprecedented disruptions continues across business communities in Ireland and around the world, the Government and various bodies have a number of initiatives and supports to help affected businesses.
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Covid-19 Business Toolkit
The business challenges that we are facing are unprecedented and managing the months ahead will be very difficult. However, there are steps that you can take to protect your business. Download our guide to view the steps that your business might consider taking in the days and weeks ahead.
Covid-19 | The outlook for Ireland's agri-food & drinks Sector
Richard Duffy, Director, BDO Corporate Finance looks at the M&A outlook for the sector during and post Covid-19. Click through to read the impacts of Covid-19 on the Food & Drinks industry so far, with the fallout very different across sectors.
Immediate and Medium-Term Cash Tax Responses to COVID-19 through Transfer Pricing
BDO Global recently hosted a webinar (May 5th) to debate how transfer pricing might be the cause of and solution to cash tax concerns for business arising from COVID-19. Click below to read the key takeaway messages from the webinar and a copy of the recording.
Revenue Warehousing of Tax Liabilities
On 2 May 2020, the Irish Government announced a suite of measures to further support businesses that are negatively impacted by Covid-19. One of these measures was the introduction of “warehousing” of tax liabilities for a period of twelve months after recommencement of trading. Angela Fleming, Tax Partner, outlines the "warehousing" arrangements and other relevant points below.
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Key Covid-19 Tax Measures
Following the announcement by An Taoiseach on Thursday 12 March of measures aimed at interrupting the transmission of Covid-19, Revenue announced some key advice and actions taken to assist small and medium enterprise (SME) businesses experiencing cashflow and trading difficulties arising from the impacts of the virus.
Hospitality firms must update business plan
The Tourism & Hospitality sector has been hit hard by Covid-19. Business owners in the sector need to re-evaluate their business in order to survive, advises Austin Hickey. Click below to find out how business owners should use this time in order to give the business the greatest chance of survival.
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Data Protection and Covid-19
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Due to the ongoing pandemic, organisations are having to take many different actions to help prevent the spread of Covid -19. The DPC (Data Protection Commission) of Ireland has outlined guidance on the implications of the current situation in relation to data protection.
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Covid-19 and Employment Tax
Arising from the severe restrictions being imposed by Governments across the Globe due to the Covid-19 pandemic, Revenue have published guidance (update 31 March 2020) in order to assist employers and employees regarding compliance with certain reporting and filing obligations and the satisfaction of certain other tax related conditions.
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Webinar | Immediate and Medium-Term Cash Tax Responses to COVID-19 through Transfer Pricing
Join our BDO Global colleagues on Tuesday May 05th, 13:00 – 14:00 (GMT), for a webinar to debate how transfer pricing might be the cause of and solution to cash tax concerns for business arising from COVID-19. Follow the link below for more information and to register.
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Temporary Covid-19 Wage Subsidy Scheme
The Temporary Wage Subsidy Scheme is a welcome introduction by Government and represents a significant improvement on the previous COVID-19 Refund Scheme. It will help to maintain incomes for employees at a level which is closer to their previous net earnings.
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10 Essentials in Preparing Your Cash Flow Forecast
Now is the time to revisit or develop a cash flow forecast for your business and update earlier assumptions in order to estimate the extent and timing of any incremental funding requirements over the coming months. Read our 10 essential considerations when preparing your cash flow forecast during this Covid-19 period below.
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BDO Ireland appointed to Fáilte Ireland Mentor Panel
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In response to the current Covid-19 crisis, Fáilte Ireland has developed a range of industry supports and services to help Irish tourism businesses navigate the Covid-19 situation together. BDO Ireland have, this week, been appointed as approved advisors to Fáilte Ireland’s panel of business and finance mentors.
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Covid-19 | Protectionism
What has become apparent from this crisis is that governments worldwide had not considered a viral pandemic to be an immediate threat to public health and were therefore caught unprepared. Read our expert commentary on the topic of trade pretectionism which has began as a result and why there is likely to be a lasting, profound fallout from the Covid-19 crisis.
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Covid-19 | Customs & International Trade Update
Read the EU and Irish Customs and Trade actions undertaken in response to Covid-19; with a particular focus on trade specific issues and measures taken to support EU Importer and Exporters, alleviate problems in the Supply Chain, and to facilitate the distribution of essential medical and food supplies.
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International Contingency measures in the EU
A helpful compilation of COVID-19 related recommendations, announcements, statements and press releases. Click below to read the guidelines issued by the ECB, EBA, ESMA, EIOPA and SRB.
Status April 2020.
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Navigating M&A Deal Activity During and Post Covid-19
The primary focus of many business owners is on managing the core business through the current pandemic. However, the Covid-19 shock may propel global M&A activity in the months to come as businesses seek to identify opportunities created by adversity. Read our M&A experts advice on Navigating M&A transactions during and post Covid-19.
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Explaining the Covid-19 Nursing Home Temporary Support Scheme
On Saturday 4th April, the Minister for Health, Simon Harris, announced measures aimed at supporting the nursing home sector in Ireland as it responds to the challenges of Covid-19. Brian McEnery, Partner & Head of Advisory, and Roger Kiely, BDO Corporate Finance & Recovery, explain the Covid-19 Nursing home temporary Support Scheme and how it will work in practice.
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Technical Advisory – Critical IT actions for Businesses during the COVID-19 pandemic
With a surge in Covid-19 cases expected in the coming weeks, the continuing social distancing measures are the next step in what will be an extensive program of increasing restrictions across Ireland. Read the Critical IT actions we advise Businesses to undertake during the COVID-19 pandemic.
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Revenue accelerates payment of R&D credit to help during Covid-19 crisis
Mark O'Sullivan, Head of R&D Technical Services, recently featured on The Irish Times' article regarding Revenue's expedited payment of R&D tax credits to businesses. Mark discusses how this will benefit companies, particularly in the midst of the Covid-19 crisis.
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Payroll and People Management, safe-guarding your business during the COVID-19 crisis
The ongoing situation with Covid-19 has presented new challenges for organisations across their business. Most of these challenges are being supported by the HR and Payroll functions; but who is supporting them?
We outline some key areas that organisations should think about to support their payroll and HR department.
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Webinar | Keeping Business Moving: Managing Your Supply Chain During The Crisis
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Join Carol Lynch, Partner, BDO Customs & International Trade, Brian McEnery, Partner & Head of Advisory, and Aidan Flynn General Manager at Freight Transport Association Ireland for a panel discussion hosted by the British Irish Chamber of Commerce this Friday, 03rd April at 11am.
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Covid-19 | The Impact on Valuations
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Stock markets around the world are plummeting, with the S&P 500 index falling by over 20% since the start of March. Brian Haugh, Head of BDO Valuation & Financial Modelling Centre, discusses the impact that this is having on valuations.
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Available On-Demand | ACCA Webinar - BDO's Covid-19 Toolkit for Irish Businesses
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ACCA Ireland with Brian McEnery - Head of Advisory & Former ACCA Global President, and Pat Sheehan - Tax Partner, recently hosted a special webinar on our new Covid-19 toolkit.
Re-watch the full session below.
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Covid-19 Fiscal and financial measures across the globe
BDO have created a global tool that operates via an interactive map to provide visitors an overview of key measures being introduced by international governments in relation to the Covid-19 pandemic. It is compiled from information provided by BDO Tax and BDO Grant and International Aid specialists, and will continue to be built upon as more information becomes available.
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Hiring, Onboarding and Accessing Talent in the Midst of the Covid-19 Crisis
The current business environment caused by the spread of Covid-19 has created numerous difficulties for businesses, however, there are still areas where business hires need to be made and new challenges have arisen in relation to recruitment, hiring and on-boarding.
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Covid-19 and Corporation Tax
As part of its advice and guidance for taxpayers dealing with a range of difficulties caused by the impacts of the COVID-19 virus, Revenue have published their position on several Corporation Tax matters. For any questions or assistance please contact your usual BDO tax contact or a member of our Tax team.
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New EU Controls on the Export of Personal Protective Equipment
The EU has introduced temporary export controls on the export of Personal Protective Equipment (PPE) such as masks, gloves, gowns and eyewear in order to assist and protect these supplies in the EU. Read more about the new conditions below.
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Covid-19 | Revenue Press Releases 2020
Keep up to date with the latest developments and relevant press releases from The Revenue Commissioners at our "Revenue Press Releases" page. The articles include information on key date changes and updated information on eworking & tax for employers.
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Covid-19 | Cash Flow & Working Capital Management
The Covid-19 global pandemic and resulting economic environment will test businesses in Ireland and the rest of the world. BDO's Corporate Finance team can assist you in preparing a rolling cash flow forecast, reviewing your cash conversion cycles and providing advice on the incremental funding options available during this time.
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Revenue Updated Guidance on eWorking and Tax
Revenue today (20 March 2020) updated their guidance on the tax treatment of e-workers and remote workers (link to the full Revenue guidance here).
Read the updated guidance below.
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Covid-19 Business continuity planning in 5 steps
In an unfolding situation like COVID-19, it can feel very much like bracing yourself for battle with an unknown enemy. How your business will emerge at the end of the day, is not only impacted by global legislative, health, and economic factors, but is also strongly tied to your human response, leadership and scenario planning in the time you have now.
Covid-19: Cybersecurity Recommendations
With the spread of COVID-19, increased demands for information technology (IT) support services are occurring across nearly all industries as more people are being asked or required to work or study remotely from their homes. As a result, your business may be vulnerable to potential cyber threats. Read our cybersecurity recommendations which are applicable to all industries.
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Employer COVID-19 Refund Scheme
In order to provide rapid income support to those employees who have suffered a loss of income due to being laid off as a result of the COVID-19 epidemic, the Revenue Commissioners have announced details of the Employer COVID-19 Refund Scheme.
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