Oireachtas Joint and Select Committees

Thursday, 14 December 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Paradise Papers (Resumed): Allied Irish Banks

9:30 am

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Okay. On that issue, does Mr. Byrne acknowledge that the subsidiary had legacy customers? The previous Deputy mentioned that in 1998, AIB Isle of Man started accepting only those residents of Ireland who could avail of legitimate tax planning opportunities. A note drafted for a board meeting of AIB Isle of Man in 2004 broke the business into legacy customers from before 1998 and post-1998 customers who had legitimately availed of the bank's services. For how long did AIB continue to facilitate legacy customers who, we can infer, illegitimately availed of the bank's services and who, through the structure that was created, were out of the reach of the Irish tax authorities?

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