101 Deputy Trevor Sargent asked the Minister for Finance if a club (details supplied) in County Dublin is in breach of section 235 of the Taxes Consolidation Act 1997 by using €2.2 million of interest from a tax-exempt capital sum of €20 million to offset against the club operating loses of €2.9 million, thereby subsidising member’s annual subscriptions to a lesser amount than would otherwise be payable were such interest not available to the body, and, in so doing, conferring a direct or indirect financial benefit on the members of that body in contravention of the terms and conditions under which the tax exemption was granted; and if he will make a statement on the matter. [17349/10]

Summary

101 Deputy Trevor Sargent asked the Minister for Finance if a club (details supplied) in County Dublin is in breach of section 235 of the Taxes Consolidation Act 1997 by using €2.2 million of interest from a tax-exempt capital sum of €20 million to offset against the club operating loses of €2.9 million, thereby subsidising member’s annual subscriptions to a lesser amount than would otherwise be payable were such interest not available to the body, and, in so doing, conferring a direct or indirect financial benefit on the members of that body in contravention of the terms and conditions under which the tax exemption was granted; and if he will make a statement on the matter. [17349/10]

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• Tax Code.

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