Coverage of the Section 110 scandal in Irish Media
By far, the best material written on the vultures use of Section 110s to avoid all Irish taxes, are from Stephen Donnelly (in the Dail and in the Independent), and the Sunday Business Post.
Stephen Donnelly: Why Noonan’s Section 110 Amendment won’t work, Sunday Independent Sept 2016
Stephen Donnelly: Tax avoidance anomaly means pain for taxpayers, Sunday Independent July 2016
Stephen Donnelly: How did the Government shaft mortgage holders and taxpayers in one fell swoop, Sunday Independent July 2016
Stephen Donnelly: Dail Eireann July 14th 2016
Stephen Donnelly: Dail Eireann July 8th 2016
Sunday Business Post
Jack Horgan Jones: What did Noonan know about vultures’ tax? Sunday Business Post
David McWilliams: Vulture funds rub salt into the carcass of this country, Sunday Business Post
Probe into vulture fund tax avoidance following Sunday Business Post investigation, Sunday Business Post
It is impossible to get major Dublin law and/or accounting partners to come out and speak about what this small group of vultures have done (for obvious reasons). Instead, they have been using John McManus and Cliff Taylor in the Irish Times to try and “deflect” the scandal (covered above). We even had Professor Eamonn Walsh of UCD do a “Comical Ali” impersonation (shown above) on this scandal for RTE prime time (covered earlier).
We are therefore left with smaller accountants to highlight this scandal (it is also obvious to them):
Sunday Independent: A rallying cry to claw back some of the vultures’ massive gains in Ireland, Paul Wyse, Smith & Williamson
Irish Times: Revenue warns firms over sale of loans to vulture funds (quoting Aisling Donohue, MG Partners)
(the above Irish Times article is perhaps the greatest “smoking gun” of this scandal (covered in detail earlier) as it shows the Irish Revenue’s full awareness of what the vultures were doing, and that it was going to solve it for them. For anybody with a basic understand of taxation in Ireland, this Irish Times article, and Revenue’s quotes, was shocking.)
Other Irish Papers
It is hard for the Irish media. They can’t get a major expert to go “on-record” and they are fed the lines of the Dept. of Finance (i.e. we are very concerned, broad Revenue investigation, checking QIFs, ICAVs, more of a “loophole issue” that needs to be closed etc.), who are paddling like mad to deflect the attention from the c 10 vulture funds who are going to do +90% of the billions in Irish taxes avoided and violate several Irish anti-avoidance rules.
Vulture Funds are feasting tax-free on carcass of our property crash, Independent
Vulture Funds minimise tax bills as State now appears to have given “Sale of the Century”’ Independent
Vulture funds using charitable status for tax avoidance being investigated, Journal.ie
Revenue takes aim at opaque financial special purpose vehicles, Irish Times
Revenue investigating firms’ misuse of charity tax scheme, Irish Examiner
Dearbhail McDonald: Revenue probes 40 ‘tax-neutral’ companies for suspected abuse, Irish Independent
It was funny to see the surprise when they realised what was going on.
BBC: Irish Government to close Vulture Fund “loophole”
BBC: Apple Tax Case, Ireland’s other taxing issue