Developers add Section 110 tax loophole to Nama state aid case
Complaint says Nama has competitive advantages including cheaper finance
A number of big name developers taking a complaint against Nama to the European Commission have added the agency’s use of the controversial Section 110 tax loophole to their complaint.
Developers Michael O’Flynn, Paddy McKillen, David Daly, Patrick Crean and MKN Property are bringing the complaint, saying they are at a competitive disadvantage due to Nama’s breach of state aid rules with its plans to build 20,000 homes, which they say is beyond its...
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