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flag Irish tax officials discover pension loophole exploited by 125 companies to transfer over €100,000 tax-free.

flag A recent review by Ireland's Revenue Commissioners found that 125 companies exploited a pension loophole to transfer over €100,000 tax-free into personal retirement savings accounts (PRSAs) for family members, with some transferring over €500,000 annually. flag Nearly 80% of the cases involved employees personally connected to the employer. flag The loophole emerged after the Finance Act of 2022 and has raised concerns about potential misuse and increase in such cases.

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