Fair play to you Hotdog for hanging in there through your "jax roll" period. I wish you well. I strongly believe in the medium-long term on this one, personally more like 2017: time to reconsolidate balance sheeet, get Gov pref shares sorted out, get new profitable loan book up to critical mass, write-off legacy junk, establish strong market position versus new entries in growing economy, shares buyback programme, reverse split to get the share back to euro units of measure, re-establish dividend payments, get credit rating up to institutional investor level, smooth Wilbur exit, ensure quality management transition to new leadership. Will take more than 2 years. Anyway good to know somebody else has a unit of measure of millions of these chips.
THE Government could change tax rules in the budget to let bailed out banks use more of their past losses to reduce their future tax bills. The Department of Finance is considering reversing a 2009 law that limits bailed-out banks’ ability to use past losses to save on tax, according to the Bloomberg news agency.
The rules only apply to banks that were partially recapitalised by transferring property loans to the National Asset Management Agency (NAMA).
They would allow bailed out banks to use more of their so called “deferred tax assets” to be used to off set future profits when the banks pay tax.
The scale of the Irish bank’s historic losses means it would have significant implications for AIB, Bank of Ireland and Permanent TSB, which are the banks affected.
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