Nick Leeson, the rogue trader which brought down Barings Bank, has compared
the running of Irish football clubs to the way the infamous bank was run before
Leeson, now the general manager of Galway United, told the Sunday
Times other clubs were postponing paying their tax bills and heading for a
rude financial shock.
‘Every year has a rollover effect. It’s a case of paying old debts but not
keeping up to date with the current stuff. So at the end of the year, it’s x
plus y and it just keeps going on,’ Leeson said.
‘It reminds me of when I worked for Barings in Singapore. The attitude is
“keep it going for another year”,’ he added.
Recently Cork City and Shelbourne were threatened with winding-up orders for
non-payment of tax debts, narrowly avoiding closure after raising the funds to
pay their bills.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements