Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I want to focus on one issue of tax forgoing, which is vulture funds in the State buying up billions of euro of assets in the form of individual mortgages and business loans and putting them in structures which are tax-exempt. The Minister is well aware that the vultures are setting up special purpose vehicles under section 110 which means that they pay no tax on the multi-billion euro assets that they hold in the form of Irish mortgages. It is a scandal that they are being sold in the first place but the fact that they are paying no tax on it is another scandal. The Taoiseach said in response to our questions that he would look at this issue. Will the Minister confirm to the House that this will be blocked and not allowed to continue after the Finance Bill this year?

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