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

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. Nearly 80% of the cases involved employees personally connected to the employer. The loophole emerged after the Finance Act of 2022 and has raised concerns about potential misuse and increase in such cases.

3 months ago
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