Monday June 1, 2020

Final countdown for tax loopholes

The days of tax advisers exploiting loopholes for their clients may be at an end, as the Revenue puts the finishing touches to harsh new rules, writes David Clerkin, Markets Correspondent

3rd July, 2010

Tax advisers face a nervous summer as they wait for the Revenue Commissioners to finalise details of new rules aimed at flushing out the use of tax loopholes.

The new rules, expected to take effect in September, will require accountants and tax specialists to automatically tell the Revenue whenever they develop and market a structure that manages to reduce or eliminate their clients’ tax bills.

So-called ‘tax avoidance’ transactions have been a routine feature...

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