A clear misstep in the Finance Bill

New measure will increase that compliance workload for many indigenous Irish companies with little purpose.

Minister for Finance Paschal Donohoe before he presented his generally pro-business Budget in October. Picture: Moya Nolan

Open market value is the touchstone of many commercial arrangements. It indicates how much a product or service should sell for if there is a willing vendor and a willing purchaser. 

There is good cause to be suspicious if something is selling for less than what you might expect the price on the open market should be. The product or service may not be quite as good as it is represented to be, or it could suggest that the bargain is not at arm’s length because the parties are connected.