Dáil Éireann Debate, Tuesday - 17 January 2017
84. Deputy Mick Wallace asked the Minister for Finance if he will provide an estimate of the tax loss to the Exchequer for the years 2013, 2014 and 2015; the details of the persons or bodies that hold section 110 tax status in relation to the NAMA policy of selling loan portfolios to investment funds; and if he will make a statement on the matter. [1719/17]
Amharc ar fhreagraI am advised by the Revenue Commissioners that there is no requirement in tax legislation for "section 110" companies to provide details of the source of the financial assets which are to be held by the section 110 company. The same position applies as respects the information such companies are obliged to include in their annual tax returns. In the circumstances, it is not possible to provide the tax yield estimates requested.
I am further advised by Revenue that having regard to the provisions of section 851A of the Taxes Consolidation Act 1997 under which Revenue is obliged to treat taxpayer information confidentially any information regarding any section 110 company which acquired assets from NAMA cannot be disclosed.
