Vulture funds ‘use charity to avoid tax’

Vulture funds are using charities to avoid paying tax in Ireland, potentially costing the exchequer up to €20m a week, it has been claimed.

Social Democrat TD Stephen Donnelly made claims in the Dáil that, in one situation, a company was promoting helping children but also involved in avoiding paying huge sums of tax here.

Tánaiste Frances Fitzgerald said Revenue, the Department of Finance, and the charity regulator would look at how ‘vehicles’ or structures are investing in property or abusing a charity status.