Tuesday August 4, 2020

Revenue probing plan by high earners to shrink tax bill by €110 million

Ian Guider

Markets Editor

30th September, 2018

The Revenue Commissioners are probing some two dozen taxpayers who are attempting to reduce their tax bill by €110 million as part of an avoidance investigation.

It has emerged that, as of the end of January, 25 taxpayers with total losses of €550 million on financial instruments known as foreign exchange contracts for difference and other schemes were looking to offset their capital gains tax liability by approximately €110 million.

The figures have emerged in the...

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