Saturday August 8, 2020

State loses out on €1.2bn in tax from banks and builders

Revenue figures reveal lenders and construction companies suffered €129bn losses

16th October, 2016
Joan Burton

The state is losing out on billions of euro in tax revenue thanks to boomtime losses built up by banks and property developers, the Revenue Commissioners has confirmed.

According to figures released by Revenue, companies in the financial services and construction sector managed to avoid paying €1.24 billion in tax during 2014.

They were able to do this by utilising the massive losses they accumulated during the property crash to offset tax on the profits they...

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