Finance union calls for banking levy to be widened to Revolut and other fintechs

  • 📰 IrishTimes
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 98%

Business News News

Business Business Latest News,Business Business Headlines

Minister has launched a public consultation on levy, which was introduced in 2014 and is due to come to an end in December 2023

The FSU noted that Irish banks continue to be able to minimise their tax bills 15 years after the financial crisis as they hold large levels of deferred tax assets as a result of crisis-era losses

The FSU noted that Irish banks continue to be able to minimise their tax bills 15 years after the financial crisis as they hold large levels of deferred tax assets as a result of crisis-era losses. The State’s three surviving retail banks, AIB, Bank of Ireland and Permanent TSB, had more than a combined €4 billion of deferred tax assets at the end of last year, according to figures in their respective annual reports.

Mr O’Connell said: “The rationale behind introducing the banking levy then, continues to be valid today. The Minister should work with [EU] member state counterparts to ensure a level playing field across the EU with the objective of seeing a banking levy introduced in all EU member states.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Finance Ireland to raise variable mortgage rates by 0.25%The company said on Thursday that the changes will take effect from June 12
Source: businessposthq - 🏆 8. / 71 Read more »

Finance Ireland to raise variable mortgage rates by 0.25%It comes after the European Central Bank increased interest rates by a further 0.25 per cent last week
Source: businessposthq - 🏆 8. / 71 Read more »