Revenue is carrying out a “comprehensive analysis” of PRSA payouts between 2023 and 2025 to determine the loophole's impact before it was closed off. Early evidence points to an exploited system.
In the final weeks before the 2008 financial crisis, three investors entered trades that would echo through the courts for nearly two decades – ending in a High Court ruling this month.
Quality and Qualifications Ireland incorrectly treated external assessors as self-employed contractors for tax purposes. It needed extra funding from its parent department to settle the six-figure tax bill.
Data released to The Currency shows local authorities and other arms of the State, including the HSE and the LDA, have paid €14m since the new tax to crackdown on landhoarding came into effect in February.
The tax authority is reviewing the department's Vat and PAYE liabilities from 2021 to 2024 after raising issues during audits. A Vat liability for 2022 was paid but an overall settlement figure is not yet landed on.
The business behind the GoBus intercity service from Galway to Dublin city and the airport challenged the Revenue's refusal to recognise its right to a Vat rebate as a tourist operator.
Revenue has recouped over €300m in overpayments to date from two subsidies which were used to cover the wages of thousands of employees at businesses badly impacted by Covid-19.
Released internal records show high-profile concerns with the National Shared Services Office's pensions system, while wage overpayments and tax miscalculations remains a routine issue that could turn into another political headache.
The case is the latest attempt by criminals to target an arm of the State, with the National Treasury Management Agency recently falling victim to a €5 million phishing scam this summer.
For years Dublin landlord Paul Howard and his partner Una McClean have been pursued by Revenue in a multi-million tax claim. But the couple has struck back using the ancient laws on champerty against the tax authority.
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