Targeting The Credit Unions

Sir, - For many years I have been a member of a credit union and each year I returned my dividend/interest to the tax inspector…

Sir, - For many years I have been a member of a credit union and each year I returned my dividend/interest to the tax inspector and was charged tax at the full rate. I did this because I believe that as a Christian and a citizen I should pay my tax and also not lie. It now seems that both members of credit unions and the politicians that speak for them do not believe in paying the tax due. The result of not reporting to the Revenue is that credit unions have become an inshore haven to enable tax evasion to take place. Do I detect a whiff of hypocrisy in pursuing the Ansbacher accounts while at the same time condoning tax evasion at the grass roots, since that is where the tax evasion culture has begun? Charlie McCreevy was absolutely correct in providing for reporting to the Revenue. The application of DIRT is another matter since in the nature of things there are many honest small investors in credit unions who would not be liable to tax. Is it not also very unfair to other banking institutions when a credit union can declare a dividend which in practice seems to be tax-free? Let the Government be consistent or give up pursuit of the Ansbacher accounts. - Yours, etc.,

From Tony Scott

Sweetbriar Lawn, Tramore, Co Waterford.