Semi-states avoid tax by using Dutch companies
Published 04/03/2007 | 10:33
Three semi-state companies have been legally able to avoid paying corporation tax here by moving more than €90m through the accounts of Dutch holding companies.
According to the Irish Mail on Sunday, the ESB, An Post and Aer Rianta have been using so-called mailbox companies in Amsterdam for nearly 10 years.
It maintains the ESB transferred more than €69m in profits to an Amsterdam-based holding company in the 1990s.
An Post set up AN Post BV in May 2002 and has been used to clear almost €18m in inter-company loans.
Aer Rianta, meanwhile, has put nearly €4m through the books of their mailbox company, Aer Rianta International Netherlands BV
Opposition parties have called for an investigation by Finance Minister Brian Cowen and the Revenue Commissioners.