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Pearse Doherty makes two submissions to Finance on ending tax injustices

8 October, 2016 - by Pearse Doherty TD

Sinn Féin Finance spokesperson Pearse Doherty TD this week made two submissions to the Department of Finance and the Budgetary Scrutiny Committee regarding tax avoidance schemes.

The first submission outlines the issue of non-resident investors using Alternative Investment Funds to but Irish property and avoid tax on the associated income and gains.

Deputy Doherty outlines in this submission how policy change is needed to ensure that these structures cannot facilitate tax avoidance in this state.

The second submission concerns Section 110 companies, which have been used here widely in the property mortgage market to avoid tax. 

The submission gives background on how his FOI exposed Revenues concerns around Irish charities being used by these companies.

Deputy Doherty outlines how the governments proposed changes to tax legislation concerning section 110s is unsatisfactory and outlines a way to end their use for wholesale tax avoidance on Irish property mortgages.

Speaking today Teachta Doherty said;

“Tax should not be something that only ordinary people are made to pay.  Everybody has to pay their fair share.

“For too long multi-national companies have been getting away with paying little or no tax in Ireland while the ordinary taxpayer has had to foot the bill.

“This is not good enough.  My two submissions are part of my campaign to bring these tax injustices to an end.”


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