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

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.

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