David Cullinane (Waterford, Sinn Fein)
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There was a similar practice. It is perfectly legal and within the rules. I do not agree with the rules, but these companies can be set up and someone can become a director, and tax on a portion of what is really income is paid at corporation tax rate and the person pays PAYE on whatever is received from the company. There were deductibles and expenses that were not allowable, and there was an issue about this, which meant Revenue recouped approximately €60 million or €70 million. Is that correct?