CarVal firms pay just €500 in taxes

US vulture moved over €130m to parent companies following distressed assets activities here

6th November, 2016

CarVal, the multibillion US private equity firm that has heavily invested in toxic Anglo Irish Bank debts, shifted over €130 million to parent companies in low-tax jurisdictions while paying just €500 in Irish taxes.

The figures are revealed in filings for three CarVal subsidiaries lodged with the Companies Office in recent days. All three companies – Feniton Property Finance, Launceston Property Finance and Gulland Property Finance – are so-called Special Purpose Vehicles (SPVs), specifically set...

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