Confidential Revenue paper says pension system open for large scale abuse by wealthy

Revenue paper says link between salary and pension completely 'broken'

The internal report, prepared by a Revenue official, said “a number of tax loopholes” had inadvertently been introduced because of the 2022 Finance Act.

Pensions law loophole 'allowed wealthy avoid tax burden', says internal Revenue report

Revenue said the loophole allowed for “funding at an unlimited level” for family members or spouses artificially employed on low salaries and short contracts.

Confidential Revenue paper says pension system open for large scale abuse by wealthy

Report flags tax loopholes inadvertently introduced with 2022 Finance Act

Pension loophole meant wealthy company owners could employ family members part-time on token salaries and funnel up to €2 million into tax-deductible pension funds – TheStory.ie

A confidential Revenue paper said a massive loophole in pensions law meant some people could wipe out all of their tax liability by transferring huge sums into a retirement saving fund. The paper said the link between salary and pension had been completely “broken” and the system left open for large scale abuse by the wealthy. The internal report, prepared by a Revenue official, said “a number of tax loopholes” had inadvertently been introduced …

Revenue paper says link between salary and pension completely ‘broken’ – Advertising and Donations – advertising-newsandtimes.com

The internal report, prepared by a Revenue official, said “a number of tax loopholes” had inadvertently been introduced because of the 2022 Finance Act.