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Home / 2005 / February 2005 / Tier 1 Capital and Irish Tax

Under the EU Capital Adequacy Directive, financial institutions such as banks must have certain amounts of capital to support their businesses ... The Irish tax system treats all the costs of "Tier 1 capital" as being not tax deductible. The purpose of this article by David Smyth is to argue that, with recent innovations in the forms in which capital can be raise, this approach may no longer be appropriate and may act as a disincentive to Irish banks seeking to raise increased capital.