Tax Loopholes Must Be Closed- Vulture Funds Avoiding Tax A Scandal

The news that vulture funds are avoiding paying tax because of loopholes in the law is very annoying to people who are struggling to make ends meet and pay their taxes on time.
Apparently these vulture funds are taking advantage of a loophole in the law under which they pay as little as 250 Euro per year which is a shocking scandal. These companies are granted charitable status and can avoid paying tax on that basis which males a mockery of tax law and the whole question of… fairness. Deputy Stephen Donnelly, who raised this matter over the weekend says that the Government are losing between one and two billion in taxes per year as a result of this practice. Even more worrying is the fact that the Government was not aware that this was going on”
“It is quite unbelievable that the Government are facilitating the avoidance of tax by these vulture funds who at the moment are not breaking tax law. What we need is an urgent review of section 110 of the tax legislation by the Revenue Commissioners and the Government. If needs be let’s recall the Dail to pass urgent legislation to close this loophole if that’s whats required. But this farcical situation cannot be allowed to continue. Ordinary people are struggling while these vulture funds get away with paying almost no tax at all. It’s a national scandal and further proof that big business can get away with almost anything. Despite the scandals of the past we have learned absolutely nothing..