More than 200 high net worth individuals face the prospect of paying a combined €500 million to the Irish tax authority in interest and penalties, following a landmark court judgment.
The individuals, who include some of Ireland’s best-known business figures, used an elaborate tax scheme to wipe massive sums off their tax bills. However, it has now been ruled illegitimate by the Circuit Court.
The scheme centred on the disposal of inter-company shares, and...
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