Change in controversial loophole costs Nama €158m

Agency makes preliminary payment to Revenue after Section 110 amendments

1st February, 2017
Nama made €795m profit in first nine months of 2016. Pic:

The move was revealed as the agency issued its financial figures for the first nine months of 2016, which showed that it made a profit of €795m in the period.

The tax payment related to estimated profits on sales through Section 110 companies in the period from September 6 to December 31 when the change became effective. The payment will be reflected in the fourth-quarter accounts which will be published at the end of March.

Today’s figures show...

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