IN THE PAPERS
In The Papers 9 September
09-09-2010
by Sylvia Leatham
Revenue could force everyone to file online | Google unveils faster search results
The Irish Independent reports that self-employed people will be forced to file their tax returns online under plans being considered by the Revenue Commissioners. The proposal is being criticised as a move that would cut costs for the Revenue but do little to make it easier for the self-employed and small firms. Large firms already have to file electronically, but now the Revenue wants to extend this in phases to everyone. The tax authority is proposing that from next January all companies, partnerships and most of those who are self-assessed will be subject to mandatory online filing. The new rules would also apply to those registered for VAT and employers with more than five staff.
The Irish Times reports that Enterprise Minister Batt O'Keeffe is expected to announce on Thursday the heads of the eight new research centres aimed at linking academia and industry. Eight Competence Centres are due to be opened in a six-year initiative to support the development of market-led products. Some EUR37 million has been provided by the Government for the centres. O'Keeffe said the funding would allow academics and business people to work together in producing products and services that meet consumer demand and create jobs.
According to the Financial Times, Google has unveiled changes to the way it presents search results, in what it described as one of its most significant updates ever. Google Instant displays full search results as users type queries into the search box. "It's searching before you type -- we're predicting what query you're likely to do and giving you results for that," said Marissa Mayer, Google's head of search products and user experience. The new approach is intended to help users find results more quickly, although some search experts believe that indirect changes to how users conduct their searches could also have a wider impact on the businesses that advertise on Google or rely on traffic from the search engine.
The paper also says that former HP chief Mark Hurd could make nearly USD11 million next year in his new position at Oracle. The software giant will pay Hurd an annual salary of USD950,000, and he will be eligible for a bonus of up to USD10 million in 2011, according to a regulatory filing. Hurd's target bonus for next year is USD5 million, but he will receive the higher amount if he exceeds certain performance targets.
The Wall Street Journal reports that an Indian court has decided that officials can seek taxes from Vodafone on its purchase of one of the country's largest mobile operators. The decision could cost Vodafone USD2.6 billion and make companies think twice about making big deals there. The Bombay High Court dismissed Vodafone's appeal of a ruling by the Indian tax department that it can seek taxes on Vodafone's USD11.2 billion acquisition of a majority stake in Hutchison Essar three years ago. Tax authorities say Vodafone should pay capital-gains taxes on the acquisition even though the UK company was the buyer. Vodafone says the transaction was between two foreign companies so Indian tax authorities don't have jurisdiction and if they do, they should pursue Hong Kong's Hutchison Telecommunications International, which profited from the deal.
Free! "In the papers" email newsletter -- get the full text to your in-box every business day. Email itp@enn.ie with 'subscribe' in the subject line.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 