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The Future of Irish GAAP is Here

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The FRC has issued three new standards; FRS 100, FRS 101 and FRS 102.

Transfer Pricing News

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This newsletter is produced by the BDO Transfer Pricing Centre of Excellence in collaboration with the various national practices involved, and provides frequent up-to-date information in the area

Indirect Tax News - new issue

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Download or read the January 2013 issue of Indirec

Tax Bites - issue 18

Thursday, January 10, 2013

Tax Bites issue 18 is a

Budget 2013: Key Highlights & Tax Guide

Thursday, November 29, 2012

BDO is delighted to bring you some of the key highlights and our tax guide report from the Budget 2013.

BDO 2012 year end results show tangible growth

Wednesday, November 21, 2012

​BDO is pleased to announce that the total combined fee income for the year ended 30 September 2012 for all BDO Member Firms, including the exclusive members of the US and Spanish firms’ Alliances,

BDO Appointed Receivers to Olhausen Ltd.

Wednesday, October 10, 2012

10 October 2012

BDO Statement:

BDO tax adviser realises dream to sail on round the world racing yacht

Thursday, July 5, 2012

BDO tax adviser Feargal Kinsella talked to George Hook on

    • BDO wins global outsourcing award

    Thursday, June 28, 2012

    On 27 June, the European outsourcing Industry gathered together for the Annual European Out

    Tax Bites - issue 17

    Wednesday, June 20, 2012

    Tax Bites issue 17 is available (opens in a new browser window).

    IN THIS ISSUE OF TAX BITES

    World Wide Tax News, May 2012

    Thursday, May 31, 2012

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    BDO’s Technology Survey Breakfast Briefing, 24th April

    Tuesday, April 24, 2012

    Technology companies look to product innovation and new markets in path to growth

    Growth expectations decline and recession is now the main concern

    Ear

    Tax Bites - Business owners alert

    Thursday, April 12, 2012

    Tax Bites Special Edition is available (opens in a new browser window).

    IN THIS ISSUE OF TAX BITES

    BDO Ireland appoints seven new partners

    Wednesday, April 11, 2012

    Nationwide expansion of services sees staff numbers increase by 20% as 60 new employees join Dublin and Limerick offices

    BDO named International Tax Adviser of the Year

    Wednesday, March 14, 2012

    Global accountancy and business advisory network, BDO, was named ‘International Tax Adviser of the Year’ at this month’s International Accounting Bulletin awards.

    BDO beat other accounting firms, networks and associations to pick up the award that recognises a tax practice that has made an outstanding contribution to a client’s global tax needs.

    John Wonfor, BDO’s Global Head of Tax, said: “I’m delighted for all our tax advisers that the hard work and innovation I see every day has been publically recognised through this award. Our tax teams across the world focus on delivering exceptional levels of service to their clients and do so with a proactive, innovative and commercial attitude. Our tax advisers not only understand the complex world of global compliance and tax planning, but also the precise needs of clients who need tailored solutions. This award recognises that we truly are leading the global tax field. Congratulations to them all.”

    In addition, the Managing Partner of BDO Norway, Trond-Morten Lindburg, was named ‘Young Accountant of the Year’ at the ceremony in London on Thursday 8 March 2012.

    BDO wins awards for client service and international collaboration at the Managing Partners’ Forum

    Monday, March 12, 2012

    Accountancy and business advisory firm, BDO LLP, was awarded the top spot in two categories at this month’s Managing Partners’ Forum (MPF) European Leadership Awards.

    Finance Bill 2012

    Wednesday, February 8, 2012

    BDO partner Stewart Dunne's lessons on growing a business

    Sunday, January 1, 2012

    "Practice. The view from Stewart Dunne FCCA, partner BDO"

    From Accounting & Business, page 29 - Sunday, January 1, 2012.

    BDO partner Sinéad Heaney discusses The Davy EII Tax Relief Fund

    Wednesday, November 30, 2011

    Hear BDO partner Sinéad Heaney discuss the new Employment and Investment Incentive Scheme on the Newstalk Breakfast Business show with Ian Guider: click here.

    BDO wins important Fáilte Ireland assignment

    Thursday, November 24, 2011

    A strategic alliance involving BDO and Amárach Research was recently appointed to carry out a business and financial performance survey of over 1,300 tourism enterprises on behalf of Failte Ireland.

    Speaking about the assignment, BDO's Managing Partner Derry Gray noted the respective strengths offered by both firms; "BDO as leading business and financial advisers combined with Amárach’s market research expertise, provides a unique solution to firms and organisations looking to conduct detailed market research, particularly with a finance and/or business performance angle."

    "This win builds on previous projects secured by our two firms and I look forward to continuing this successful alliance into the future."

    Ambition Survey 2011

    Wednesday, November 23, 2011

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    • BDO calls for industry to address its debt burden

    Thursday, June 30, 2011

    PRESS RELEASE

    BDO calls for industry to address its debt burden.

    Annual Hotel Survey shows a level of optimism among hoteliers, but tough year ahead envisaged if debt problem is not tackled.

    Audit, Tax and Advisory firm BDO’s Managing Partner, Derry Gray, will today call for industry action to tackle the high level of debt burden among Ireland hotel stock. This call comes following the release of BDO’s annual Hotel Industry Future Survey that showed a growing level of optimism among hoteliers.

    Speaking at The Outlook for the Irish Hotel Sector event hosted in Dublin by BDO, Gray will highlight the key findings from BDO’s hotel sector survey; 87% of hotels surveyed indicated that they were confident / very confident that their hotel’s performance would improve during 2011.

    Gray will point out that this optimism is very encouraging; however it was not based upon industry revenue figures as the survey also showed that revenues earned among respondents in the first quarter of 2011 were less then that of the same period in 2010. Gray will note that the sector had never presented a better offering of value, better amenities and better infrastructure, however unless the fundamental issue of debt burden was addressed, the present revenue rates were not viable into the long term.

    In conjunction with the industry survey, BDO will also release their hotel vision document ‘Mapping the Future for the Irish Hotel Sector’ which includes contributions from Fáilte Ireland, Tourism Ireland, The IHF, ITIC, The Convention Centre Dublin, Savills and hoteliers; Liam Griffin and Tom Moran.

    In addition to Derry Gray, speaking at Thursday morning’s conference will be Shaun Quinn, CEO of Fáilte Ireland and Liam Griffin, MD, Griffin Hotel Group.

    Speaking at the conference, BDO Managing Partner Derry Gray will say:

    ‘Ireland now has the best value hotel rates in Western Europe. We have a fantastic product, a vastly improved infrastructure, and some great management teams. The problem is that many potentially viable hotels are over burdened with debt, and until this issue is properly addressed by all of us in the Hotel sector, the industry will not reap the benefits of recent improvements in our offering. I welcome the initiative to reduce the VAT rate in the tourism sector, which will further improve our competitiveness.

    I am today calling on the industry to make the debt burden a priority. I believe that by working together we can find creative solutions to this debt overhang; if we do not we will continue to lose viable hotels, their excellent facilities and perhaps event the opportunity that exists to make tourism one of the areas that pulls Ireland out of the current recession’.

    NOTES TO THE EDITOR

    Derry Gray

    Derry Gray is Managing Partner and also Head of the Hotel, Leisure & Hospitality sector team in BDO Ireland. Derry has over 15 years experience advising national and international hotel groups. Derry’s team produced the 2011 BDO Irish Hotel Sector Survey and carried out face to face interviews with the participants of the “Mapping the Future for the Irish Hotel Sector” document.

    Outlook for the Irish Hotel Sector Survey: 2011

    • BDO surveyed 100 Irish hoteliers at the end of the first quarter of 2011 with a sample covering the four provinces across the island of Ireland.
    • Both BDO clients and non-clients were approached to take part in the research.

    The survey revealed:

    • 87% of hoteliers are either confident or very confident that their hotel performance will improve during 2011.
    • 75% of respondents expect average room occupancy to increase during 2011.
    • 56% of hoteliers expect average room rates to increase, with only 8% of respondents expecting average room rates to decrease in 2011.
    • 55% of hoteliers expect that overall performance for 2011 will be better than 2010.
    • There were notable variations in average room occupancy for the first three months of 2011. Approximately one third of hotels indicated an average occupancy of between 70% to 80%. Conversely one in five respondents reported average occupancy of less than 45%.
    • >40% of hotels stated that revenue earned in the first quarter of 2011 was less than revenue earned in the same period in 2010. Despite increases in occupancy in the period, it is clear that downward pressure on room rates continues to affect turnover and, one would assume profitability.
    • 57% of respondents when prompted stated price competition as the main factor currently impacting on hotel performance.
    • 55% of respondents stated that increasing their sales and marketing effort was their plan to take charge of their own destiny.

      • Mapping the Future for the Irish Hotel Sector – outlook document

      A qualitative piece of research carried out by BDO on the Hotels sector. With insights and opinions from Key Industry Stakeholders including:

      • Shaun Quinn, CEO, Fáilte Ireland
      • Niall Gibbons, CEO, Tourism Ireland
      • Liam Griffin, Griffin Hotel Group
      • Tom Moran, Moran Bewley Hotel Group
      • Tim Fenn, CEO, the Irish Hotels Federation
      • Nick Waight, CEO, The Convention Centre Dublin
      • Eamonn McKeon, CEO, the Irish Tourist Industry Confederation
      • Tom Barret, Head of Hotels, Savills
      • Derry Gray, Head of Hotel, Leisure & Tourism and Managing Partner, BDO Dublin
      • Francis Martin, President of the NI chamber of Commerce.

      BDO Ireland

      BDO is the fifth largest accountancy network in Ireland and in the World with Audit, Tax and Advisory experts working out of 3 offices around the country – Dublin, Limerick and Belfast. BDO have 466 staff nationally and a turnover of €63m for the last financial year.

      BDO International

      BDO Ireland is a member of the BDO international network of firms, the world's fifth largest accounting network. The combined fee income of all the BDO Member Firms, including the members of their exclusive alliances, was $5.28 billion in 2010. The global network provides advisory services in 119 countries, with almost 47,000 people working out of 1,082 offices worldwide.

      For Further information and a copy of both of the documents then please contact Gillian Murtagh at the BDO Press Office on (01) 470 0505

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