AIB and PTSB would be worst hit by tax proposal

Proposal to introduce ‘sunset clause’ to limit the use of so-called deferred tax assets

Bank of Ireland had €1.2 billion of deferred tax assets on its balance sheet at the end of December.

Bank of Ireland had €1.2 billion of deferred tax assets on its balance sheet at the end of December.

State-controlled AIB and Permanent TSB would be worst hit by the Oireachtas Public Accounts Committee’s plans to recommend that banks should be curtailed from using losses accumulated during the financial crisis to lower their tax bills over the long term, according to analysts.

The Sunday Business Post reported over the weekend that the influential committee would seek to introduce a “sunset clause” into law, which would limit the use of so-called deferred tax assets (DTAs) to a 10-year period.

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