TD for Wicklow and East Carlow. Fighting for job creation, economic justice and political reform.

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Tax
Time to Tax 'Vultures' Like the Rest of Us

Time to Tax ‘Vultures’ Like the Rest of Us

Closing down tax avoidance by large investors is part of the difference between the State having, and not having, enough money to invest in public services and infrastructure for the next decade. And to that end, the latest Project Eagle accounts tell us three important things. First, they vindicate the Comptroller and Auditor General’s (C&AG)...
Tax Breaks for Commercial Property Will Fuel Bubble

Tax Breaks for Commercial Property Will Fuel Bubble

Proposed new tax breaks in the Finance Bill will fuel an existing commercial property bubble in Dublin. They’ll do this by making commercial property investment, mainly by large foreign landlords, entirely tax free. This will drive up commercial rents, suppress residential development, put Irish banks at risk, and deprive the State of much-needed funds. As...
Donnelly Submits €20BN Proposal on Vulture Funds

Donnelly Submits €20BN Proposal on Vulture Funds

Stephen Donnelly, TD for Wicklow and East Carlow, has submitted a detailed proposal to target €20bn in future avoided taxes. Many so-called vulture funds are using a tax avoidance mechanism called Section 110 to pay almost zero Irish taxes on billions in profits. The matter has been highlighted by Deputy Donnelly over several months, and...
Eagle's Potential Loss is Bigger Than £190m

Eagle’s Potential Loss is Bigger Than £190m

The potential loss of £190m to the state from Project Eagle is getting much attention. But there’s a much bigger loss to the state from Project Eagle… about £500m in potential tax avoidance. And unlike the £190m, that £500m can be brought in, if we just make a few important changes to the Finance Act...
Why I Had No Option but to Leave the Social Democrats

Why I Had No Option but to Leave the Social Democrats

I’m writing today about what the State needs to do to secure in the region of €10bn to €20bn in potentially lost taxes from the so-called vulture funds. However, I would first like to comment briefly on my decision to resign from the Social Democrats. Having vested so much in the party, and worked with...
Move to Close Loopholes on Tax Avoidance Still Full Of Loopholes

Move to Close Loopholes on Tax Avoidance Still Full Of Loopholes

The draft legislation published by Minister for Finance this week is a welcome first step, but it has more loopholes than a Swiss Cheese. Initial soundings suggest that the proposed amendment, aimed at shutting down tax avoidance by so-called vulture funds, might only stop about a tenth of what’s going on.