Tax Avoidance
Dail Éireann — 2020-11-26
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Richard Boyd Barrett (PBP), Dún Laoghaire

It was reported in the past week or two, and perhaps earlier, that a company set up by Goldman Sachs - it is a crowd called Tramore Funding DAC, a special purpose vehicle that is just two years old and is due to disappear shortly - and which had purchased loan portfolios off banks generated €153 million in tax-free profits from its backers but, through "complex accounting procedures", managed to turn those profits into a loss and paid no tax whatever. Is the Minister aware of this? What does he think about such an extraordinary situation where those kinds of profits are not taxed?

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2020-11-26/debate/main
Retrieved: 2026-08-14T04:48:51+00:00
Sitting date: 2020-11-26