Thursday 23 February 2017

Ex-Revenue chief in Nama tax drama

Nick Webb

Nick Webb

NAMA chairman Frank Daly
NAMA chairman Frank Daly

Cringe! So the former chairman of the Revenue Commissioners runs an organisation that made a complete hames of its taxes. And had to make a big settlement with the taxman. You couldn't make it up.

Frank Daly was top dog in the Revenue Commissioners until 2008, before being tapped up to chair Nama in 2009. His time in the Revenue saw people who hadn't paid their taxes pursued to the ends of the Earth for the taxman's pound of flesh. So, it was really rather embarrassing that Nama couldn't get its taxes right.

"Following a clarification by the Revenue Commissioners on the tax treatment of board members' expenses, Nama made a payment to Revenue in respect of the years 2010 to 2012," the State's property behemoth said last week. Nama paid €84,865 back to the Revenue. That'd pay for two midwives. Or nearly three newly qualified teachers.

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