Tax loopholes remain top target

FINANCE Minister Brian Cowen says he will continue on the path of his predecessor Charlie McCreevy and close down loopholes in the tax systems.

Mr Cowen said yesterday there were many legitimate reasons for some tax incentives, but said abuse of these would be closed down.

"In the last number of years my predecessor Charlie McCreevy has brought in something like 19 legislative changes where he identified we needed to close off tax planning schemes that were being abused or had outlived their usefulness."