Michael Noonan moves to close tax loophole for vulture funds

Finance Minister Michael Noonan has announced a clampdown on vulture funds using a tax loophole to bulk up profits after concerns were raised about firms buying up Irish property.

His announcement came as Central Bank chiefs revealed that assets valued at €300bn in Ireland have been bought by vulture funds and special investment firms.

The revelation comes as the Dáil prepares for an emergency debate today on the Apple tax ruling, which the Government expects will rubberstamp its appeal against the Brussels judgement.