TDs have raised concerns about so-called vulture funds using SPVs to avoid tax
An Irish firm linked to international financial giant Goldman Sachs which bought €200m of Irish commercial property loans in 2014 paid no tax, despite receiving €17.1m in cash repayments on these loans.
Liffey Acquisitions is a special purpose vehicle which bought loans from the former Anglo Irish Bank.
The Irish Times describes the entity, which has no Irish employees, as a "tax-efficient financial entity generally structured to pay no tax in Ireland".
A number of Irish TDs have raised concerns about rules regarding SPVs, and specifically their potential use by so-called vulture funds to avoid tax.
Liffey Acquisitions owns Kenmare Property Finance, an SPV which was founded to hold property loans bought from the Irish Bank Resolution Corporation (which included the former Anglo Irish Bank).
New accounts filed show the two entities had combined net income of €18.5m.
These profits were cancelled out by an impairment charge in the accounts of more than €21m.
The assets bought from IBRC had an original value of more than €205m. But within months, the newspaper reports that their value had been written down, eliminating all profits.
Liffey had total assets of €218m but made an accounting loss of more than €1.6m.