D Thursday, February 18, 2010 Business 19 Business Bites ROGUE company bosses will become personally liable for unpaid PRSI under a proposed tough law tackling tax evasion, it was revealed yesterday. The new legislation will target serial cheats and tax dodgers and is intended as a deterrent at a time when the number of businesses going to the wall is increasing. The Dils public spending watchdog, which proposed the reform, said firms going bust which make attempts to settle their tax bill with the Revenue Commissioners have nothing to fear. Bernard Allen, Public Accounts Committee (PAC) chairman, said: We must always recognise honest failure. We are after the blackguards and we are after the cowboys. If our recommendations are accepted, it will be a deterrent to the cowboys but it will not discourage the bona fide business people who wish to do business in this country. Other recommendations include ensuring company directors have all their tax affairs in order before being appointed. Proposed tax evasion law to target bosses Cowen is told to prove himself in row over hangar THE Government was attacked last night as it further resisted Ryanairs bid to take over a hangar occupied by its biggest rival and create 300 aircraft maintenance jobs. Taoiseach Brian Cowen insisted he could not evict Aer Lingus from the largest hangar at Dublin Airport in favour of another operator. As the opposition launched attacks on the Government for failing to se- cure the jobs, sceptics of the plan warned the 23,000sq ft Hangar 6 could be part of Michael OLearys goal for a stand-alone terminal. Fine Gael leader Enda Kenny sparked the Dil row, claiming Mr Cowen had to prove he was Taoi- seach, intervene in the negotiations and strike a deal. He challenged Mr Cowen to call the Ryanair chiefs bluff. If he doesnt do what he says hell do, hell hand it back to the leasee, which in this case will be the IDA, the Mayo TD said. If you are supposed to be in charge, then get out of your seat in Government offices and prove it. In- tervene here and secure these jobs for Dublin and Meath and prove yourself to be the Taoiseach. Talks between Mr OLeary and Tnaiste and Enterprise Minister Mary Coughlan broke down on Tuesday night over the lease. The Government said it offered two other possible hangars but Mr OLeary said he is now looking at two other locations overseas. Labour leader Eamon Gilmore ac- cused the Government of not caring about jobs. Mr OLeary refuses to deal with the Dublin Airport Authority and says the jobs can only be kept in Ire- land if the Tnaiste acts as interme- diary. He claims Hangar 6, formerly used by SR Technics, which closed last year with the loss of about 1,000 jobs, is the only suitable site. Ms Coughlan ignored his aim to create 500 posts at the facility and instead 200 of those jobs went to Scotland last week, he added. Jimmy Kelly, from union Unite, called on the Government and Rya- nair to sort out their differences, while Fine Gael Dublin North TD, James Reilly, said the priority now is to save jobs, not face. ICECREAM maker Ben & Jerrys is to go fully Fairtrade in Ireland by the end of next year, becoming the first icecream company in the world to be completely Fairtrade by the end of 2013. Six new flavours will be added this March to Chocolate Macadamia, Chunky Monkey, Vanilla and Vanilla Toffee Crunch, as cocoa, banana, vanilla, fruits and nuts are sourced from Fairtrade Co-ops. MORE than a third of Irish companies have concerns about implementing new Transfer Pricing rules introduced in the recent Finance Bill. Despite fears, there was a general acceptance by respondents to an Ernst & Young survey that the new rules will help rather than hinder Irelands international corporate reputation. A transfer price relates to the price of goods or services sold within an organisation. DAWN Farm Foods has won a 700million contract to supply the Subway sandwich chain in Europe with its meat over the next seven years. Founded in the US in 1965, there are now more than 32,000 Subway stores in 90 countries worldwide. The chain has 1,485 stores in Ireland and Britain and another 1,400 across Europe. Based in Naas, Co Kildare, Dawn Farm Foods is Europes leading supplier of cooked and fermented meats. business@metroherald.ie Business & Finance v$v$ DOWNDOWN vv ISEQISEQ by 54.93 at 2,952.57 $1.3726 0.869 Meet the beast: Maciej Przepiorka of IBM Poland in Warsaw at the European premier of the firms newest processor, the eight-core Power7 which can run at speeds above 4GHz and costs 2million Picture: AP By Colm Kelpie index.html2.html3.html4.html5.html6.html7.html8.html9.html10.html11.html12.html13.html14.html15.html16.html17.html18.html19.html20.html21.html22.html23.html24.html25.html26.html27.html