It is with great sadness to advise of the passing of Sean Healy. 

Sean was an accomplished professional and a pillar of the treasury community in Ireland. He served as Treasurer for the Irish Dairy Board from 1975 to 2005, where he earned the respect and admiration of colleagues for his expertise, integrity, and kindness. He was responsible primarily for FX and to his merit possibly the first treasurer in Ireland to instal a computer in the department!

Among Sean’s many achievements were to single-handedly and very successfully develop and run the IACT conference for many years.

Under his tenure and at the 1993 IACT annual conference, the International Group of Treasury Associations (IGTA) was founded. Sean then went on to represent Ireland on the board of European Association of Corporate Treasurers (EACT) and IGTA, before handing over to one of IACT ‘s founding members, Jimmy Doyle.

His leadership, vision, and tireless dedication left a lasting legacy for the profession, one that continues to benefit treasurers across the world today.

Sean’s humour and genuine interest in people, touched everyone he encountered. He was a friend to so many and his loss will be deeply felt by all who had the privilege of knowing him.

Our deepest sympathies to his family and friends. May he rest in peace.

It is with great sadness to learn of the passing of Antony Barnes, Director of Corporate Finance at Experian, who passed away late on Friday night after a short illness.

Antony was an IACT member for many years and his knowledge, expertise and remarkable personality will leave an indelible mark on those who he worked with. A source of inspiration, guidance and support, Antony will be particularly missed by all of his colleagues at Experian.

Our deepest sympathies to his family and friends. May he rest in peace.

Pillar 2 and the Impact on Corporate Treasury in Ireland

Since early October 2021, when the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (“BEPS”) initially proposed their implementation plan around Pillar 1 and Pillar 2, the EU Member States have been through a rollercoaster journey in an attempt to reach unanimous agreement.

Finally, in December 2022, the EU Council announced progress on the implementation of Pillar 2 with Zbyněk Stanjura, (the Czech presidency of the EU Council) stating that;

"I am very pleased to announce that we agreed to adopt the directive on the Pillar 2 proposal today. Our message is clear: The largest groups of corporations, multinational or domestic, will need to pay a corporate tax that cannot be lower than 15%, globally."

The end result was the adoption of a final EU Council Directive on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the European Union, which must be transposed into local country legislation no later than 31 December 2023. This is otherwise known as the EU Directive on Pillar 2, which undoubtedly will have a major impact on treasury centres in Ireland.

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Thanks to those of you who completed the Q3 2022 IACT Survey. Our lucky winner has been notified.

Please see below a summary of results which were also shared at our annual conference. We’ll be using this output to inform the briefings and webinars IACT will host in 2023.

We look forward to gauging what’s top of mind for our members early in 2023.

View Survey Results

Topic: Movie Night (Glass Onion)

Venue: Cineworld

IACT members and guests enjoyed a night at the movies followed by drinks and refreshments.

Many thanks to all who attended the IACT's Annual Treasury Management Conference at the CCD, Dublin in November. We are grateful to have had the opportunity to gather together our colleagues from the international treasury community to network and share their insights.

We would like to extend a special thank you to our expert speakers and sponsors, and are very much looking forward to seeing you all again next year! More details to come soon.

EACT_Regulatory_Report_10032022_Public.pdf

Every year EACT launches a Treasury Survey on trends and key priorities. The aim of this survey is to define themes and priorities we should address into the JOURNEY-TO-TREASURY (i.e. JTT) document co-produced together with PwC, SAP and BNPP (the coming issue will be the 7th).

The results will be disclosed to all NTA’s and will be published in the EACT newsletter.

We would be grateful if you would complete this short survey.

The survey is open until Friday 4 March 2022.

START SURVEY 

EACT Monthly Regulatory Report - December 2021

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The latest issue of The Treasurer magazine from the Association of Corporate Treasurers is available for view now in the Members area of our website 

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