Sunday October 25, 2020

PAC to recommend a ‘sunset clause’ for banks’ tax amnesty

If such a measure is made law, banks will not be able to write off their historic losses against tax for a period greater than ten years

11th March, 2018

The Dáil’s most powerful committee is to recommend changes to the law which currently allows some banks to pay no corporation tax for the next two decades.

It comes as Fianna Fáil and Sinn Féin are increasing pressure on the government to change rules that allow banks to write off boom-time losses against tax.

Public Accounts Committee (PAC) chairman Sean Fleming told The Sunday Business Post he...

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