Revealed: Nama, the vultures and the Section 110 tax dodge

Revealed: Nama, the vultures and the Section 110 tax dodge
Nama headquarters at Treasury Buildings: correspondence (inset) reveals that bidders disclosed their intention to use tax avoidance vehicles to the states toxic loan agency during the sales of debt portfolios Maura Hickey

Correspondence reveals certain bidders told Nama of plans to use loophole

Bidders for billions of euro worth of Nama loan books disclosed their intended use of controversial tax-minimising Section 110 vehicles to the agency during the bidding process, it has emerged.

Correspondence between Nama and independent TD Stephen Donnelly shows that certain bidders told Nama about their intended use of the vehicles, which have been used by a string of major so-called vulture funds to slash their tax bills.

In the correspondence, which has been seen by...

Subscribe from just 1€

Exclusive offers

Choose the subscription that is right for you

Monthly Subscription

€1

For the first month

€19.99 Monthly Thereafter

Subscribe today

Cancel anytime

Annual Subscription

€200€149

For the first year

€199.99 annually thereafter

Subscribe today

Cancel anytime

Quarterly Subscription

€55€42

For the first 90 days

€55.00 quarterly Thereafter

Subscribe today

Cancel anytime

These offers are not available for current subscribers. Offers and pricing are subject to change without notice.

Terms & Conditions Apply

Please Subscribe or Log in to continue

Subscribe Login

Related Articles

More from The Business Post