How do you make a staggering profit from a hefty loss? For a select group of Irish high net worth individuals, the answer lay in the German bond market. It was there, 16 years ago, when some of the country’s wealthiest individuals utilised a scheme promoted by one of the country’s largest accountancy firms to drive down their tax bills through the creation of artificial losses. Confused? You should be. After all, the Revenue Commissioners has spent years unpicking the Berlin bond scheme – from raising assessments on individuals involved, to defending challenges through the tax appeals system. It is,…

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