McCreevy to tighten Finance bill against tax avoidance

The Minister for Finance, Charlie McCreevy, said today that he is to amend the 2004 Finance Bill, in order to close off certain tax avoidance loopholes in the stamp duty and income tax areas.

The stamp duty amendment relates to Section 80 of the Stamp Duties Consolidation Act 1999, which gives an exemption from stamp duty in the case of certain company reconstructions and amalgamations.