Friday August 7, 2020

Government to close off vulture funds’ tax loophole

Vulture funds have spent billions acquiring toxic loans in Ireland at knockdown prices

Michael Brennan

Political Editor

@obraonain
4th September, 2016
Minister for Finance Michael Noonan Pic: RollingNews.ie

The government is going to shut down the charity tax loophole being exploited by vulture funds in the wake of the Apple tax ruling.

Vulture funds have spent billions acquiring toxic loans in Ireland at knockdown prices.

But they have been able to pay annual tax bills of just €250, despite earning millions in profits on the sale of their Irish assets.

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