Revealed: Nama, the vultures and the Section 110 tax dodge
Correspondence reveals certain bidders told Nama of plans to use loophole
Bidders for billions of euro worth of Nama loan books disclosed their intended use of controversial tax-minimising Section 110 vehicles to the agency during the bidding process, it has emerged.
Correspondence between Nama and independent TD Stephen Donnelly shows that certain bidders told Nama about their intended use of the vehicles, which have been used by a string of major so-called vulture funds to slash their tax bills.
In the correspondence, which has been seen by...
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine
Jack Dorsey is leaving Twitter but what comes next?
With Dorsey stepping away from Twitter, what lies ahead for the controversial social network and its now former boss?
The Big Interview: Brian Stafford, chief executive of Diligent Corporation
Brian Stafford’s management software firm, which he has brought to a valuation of $7 billion in six years, has opened an office in Galway, which will assist with expansion plans across Europe and Asia
Elaine Byrne: Ethics watchdog is a bystander when it comes to misbehaviour
In regulating TD’s misbehaviours, the Standards in Public Office Commission is effectively a sanctions-free zone, while the outgoing Ombudsman Peter Tyndall says that he has ‘never known anything more unfit for purpose’
Editorial: Voters reluctant to fork out for full cost of a united Ireland
Today’s Business Post/Red C poll is an indicator that support for Irish unification is not as cut and dried as it may seem