Thursday August 6, 2020

How state-backed funds slash tax bill to €250

Fianna Fáil demands answers from government; Firms defend use of vulture fund tax scheme

2nd July, 2017

Private equity firms working with the state are using a tax minimisation structure which leaves them with tax bills of just €250 a year.

The firms, Cardinal Capital and BlueBay Capital, are co-investors with the Irish Strategic Infrastructure Fund (ISIF) in SME and real estate funds currently lending into the Irish market.

Company records filed for the special purpose vehicles of the two firms show that they both had corporation tax liabilities of €250 for...

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