Sealed tax loophole may cost AIB €15m

A CHANGE in the tax code, which closes off a loophole allowing wealthy investors claim back €55m, is expected to cost AIB close to €15m.

Finance Minister Charlie McCreevy yesterday announced the closure of a loophole in regard to the transfer of capital allowances on buildings from companies to individual investors.

He has already imposed a €300m levy on the banks in his December budget.