Revenue said its opt-out right was an important safeguard for taxpayers and had only been exercised in a minority of cases
The Revenue Commissioners say their right to opt-out of Scarp company rescue schemes is not a veto and only exercised under clearly defined circumstances.
It follows a call this week from Dessie Morrow of accountancy firm Azets, the country’s most active Scarp advisers, for legislation to be changed to eliminate the opt-out right, in line with what happens in an examinership scheme for larger firms.
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