Stephen Donnelly (Wicklow, Social Democrats) | Oireachtas source

It is a lot to try to process across the floor given the various rules and treaties. My understanding of what the Minister said was that the new rule that a maximum of 30% of earnings could be deducted as interest payments will probably be introduced here in 2024. Ireland is probably one of those countries deemed to have the laws in place. I imagine that is not very useful in terms of taxation of the vulture funds. Will it be allowable for the vulture funds to take internal loans at a reasonable commercial rate? That is the core of this. Notwithstanding the technicalities, is the Minister's policy position that loans to vulture funds will have to be from genuine third parties? Alternatively, will he be allowing in certain instances internal loans to the vulture funds from a different fund, usually located abroad but which might still be under the control of the parent company? What is the policy position?

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