tag:blogger.com,1999:blog-2826531655042170344.post2205815061899163736..comments2024-03-26T11:29:52.986+00:00Comments on Economic Incentives: Deposits in Irish banksSeamushttp://www.blogger.com/profile/15679299530222667673noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2826531655042170344.post-25140757958750205882011-09-02T15:13:48.582+01:002011-09-02T15:13:48.582+01:00Some of the fall in deposits in domestic banks cou...Some of the fall in deposits in domestic banks could be due to the payment of preliminary corporation tax 50% of which is now due six months after the year end date (now due June 21st for Dec year end). Corp tax June 2011 ytd was approx 200 million behind June 2010 at the end of June but had caught up by end of July. <br /><br />It looks like some very big payer either changed the accounting year to January 31st or was late paying the Corp tax or alternatively offsetting losses are beginning to be washed out of the system.<br /><br />I would expect the corp tax returns for August to be very positive.<br /><br />PS: Has the legislation 'ring-fencing' the bank losses so that 'tax-losses' would not have to be refunded made been enacted yet?<br /><br />I noticed that AIB has a tax credit of of €351 million in its account for the first half of 2011 (and a credit of €363 million in 2010).<br />AT this rate the abnks will be getting tax refunds of billions if this does not stop!!Joseph Ryanhttps://www.blogger.com/profile/07581632829548894401noreply@blogger.com