Wednesday February 19, 2020

REVEALED: the vulture funds that paid just €250 in tax

Global funds make tens of millions from Irish property deals; Loophole allows investors to slash corporation tax bills

24th July, 2016

Vulture funds which have spent billions acquiring toxic loans in Ireland are paying tiny sums in tax, while at the same time funneling tens of millions to offshore entities.

This newspaper has learned that several funds made identical payments of just €250 to the Revenue Commissioners.

For example, Launceston Property Finance Limited, an entity controlled by CarVal, the multibillion euro US fund, has earned €75 million from its Irish investments so far. Its profits before...

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