List of tax avoidance schemes targeted by Revenue

Status
Not open for further replies.

Brendan Burgess

Founder
Messages
53,691
This interesting list is in the C&AG's report

https://static.rasset.ie/documents/news/2018/09/report-accounts-public-services-2017.pdf

upload_2018-9-30_11-15-6.png
 

Attachments

  • upload_2018-9-30_11-14-39.png
    upload_2018-9-30_11-14-39.png
    129.5 KB · Views: 158
Section 248 involves relief for interest arising on borrowings used to invest in a company.

There were schemes where you borrowed in exotic currencies at really high interest rates with the currency risk hedged and minimal risk in relation to the underlying investment.

The gilts one was a particularly ludicrous one; a tax free gain matched with a close to equivalent loss which (surprise surprise) the investor could then offset against a large gain which just happened to be arising.
 
Status
Not open for further replies.
Back
Top