Property developers with Nama-bound loans are enjoying multimillion-euro benefits by exploiting a loophole that allows them to claim tax deductions on interest payments even if they are not making the payments to their banks.
This could, in effect, create a double whammy for the taxpayer if the loan is from a state-owned lender, such as Anglo Irish Bank or Irish Nationwide.
The state would be forgoing interest income from the borrower and also losing out...
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Unlimited Access for 2 Years
Get a Business Account for you and your team