Where are IBRC Sale Profits Going?

Two years ago, the government sold thousands of Irish mortgages to foreign funds. They refused to allow the mortgage holders bid on them. Some of those mortgage holders are now being evicted, by funds that bought their mortgages at discounts of c.60%. A look at the accounts for one of these funds suggests to me that they are moving the profits out of Ireland, thus avoiding paying taxes here on huge profits made off the backs of families in Ireland paying down their mortgages. Here’s what the government had to say about it all in the Dáil.