Its absolutely obscene how David Drumm paid just 10k tax on earnings of 10 million

gonedrinking

I pay more tax than that a year on my 35k salary. Its fcuking disgusting how that bastard is allowed to just walk away from the destruction he caused in Ireland.

http://www.irishtimes.com/newspaper/frontpage/2011/0225/1224290841877.html

Pauleta

I nearly vomited my black pudding when i heard it this morning.

seamus

gonedrinking wrote: »

I pay more tax than that a year on my 35k salary.

You might want to fire your accountant or payroll department then. You should be paying less than half of that in income tax.

danbohan

gonedrinking wrote: »

I pay more tax than that a year on my 35k salary. Its fcuking disgusting how that bastard is allowed to just walk away from the destruction he caused in Ireland.

http://www.irishtimes.com/newspaper/frontpage/2011/0225/1224290841877.html

tut tut , tax is for the little people dont you know , back to work now !

Kasabian

One of the glaring omissions in the build up to this election is what any incoming government is going to do about these cnuts and what they are going to do to prevent these cnuts raping our country again.

Sonics2k

Always knew I should of gone in to Banking when I was younger...

phill106

That BANKER!


Grrrr!

danbohan

seamus wrote: »

You might want to fire your accountant or payroll department then. You should be paying less than half of that in income tax.

maybe not , he might be a visionary and be looking at his tax in 2013

El Siglo

Cunt. They'll chase us down over a fucking tenner and this fuck pays nearly nothing in tax... while running the bank that fucked us all up.

gonedrinking

danbohan wrote: »

maybe not , he might be a visionary and be looking at his tax in 2013

I'm jus sayin', I have gross pay of 35k and net pay of slightly over 24k, hence I am paying roughly 1.5k pension and roughly 9.5k tax

SeaFields

This miserable fcuker is worse than Seanie Fitz in my opinion. The sheer neck of this pr!ck is flabbergasting. From not cooperating with the Gardai to attempting to have documents related to his time at anglo destroyed.

Fcuking scum.

Kev_ps3

gonedrinking wrote: »

I pay more tax than that a year on my 35k salary. Its fcuking disgusting how that bastard is allowed to just walk away from the destruction he caused in Ireland.

http://www.irishtimes.com/newspaper/frontpage/2011/0225/1224290841877.html

Welcome to Fine Fail's Ireland. The Party of the rich voted in by the stupid.

Monty Burnz

Vote Fianna Fail!

gonedrinking

Kev_ps3 wrote: »

Welcome to Fine Fail's Ireland. The Party of the rich voted in by the stupid.

And to think all these FF bedwetters are saying "oh if you increase taxes on the rich they will all leave never to be seen again, and they will take all these jobs that they are so generously providing to the peasants of Ireland". When are people going to wake up and realise we have been taken for a ride and the rich are sh1tting themselves laughing at how easy they have had it all these years.

gerryo777

His brother was a developer at the time, his two other brothers "worked" for the same developer! I wonder where he got his development loans from???
Sounds like a corrupt little family to me!!

pickarooney

phill106 wrote: »

That BANKER!


Grrrr!

https://www.youtube.com/watch?v=0l7H1Y9ihqk

danbohan

gonedrinking wrote: »

And to think all these FF bedwetters are saying "oh if you increase taxes on the rich they will all leave never to be seen again, and they will take all these jobs that they are so generously providing to the peasants of Ireland". When are people going to wake up and realise we have been taken for a ride and the rich are sh1tting themselves laughing at how easy they have had it all these years.

but today we are going change all of that and vote in fine gael , the traditional party of the rich in Ireland, love it

ebixa82

In fairness he was a smart man who stroked/milked a corrupted system. If I knew how to pay only 0.1% tax and get away with it then I would.

Most people who say they wouldn't are liars.

danbohan

ebixa82 wrote: »

In fairness he was a smart man who stroked/milked a corrupted system. If I knew how to pay only 0.1% tax and get away with it then I would.

Most people who say they wouldn't are liars.

you will be surprised how many liars will respond to your post !

alfa beta

Sickening to read.

Wonder what the new govt will do about this reckless, thieving bastard who along with a handful of other reckless thieving bastards have landed a tax bill on the population of this country larger than anything in its history - while they themselves pay absolutely nothing quite literally.

Am I being way too hopeful in thinking that Enda and whoever ends up at the helm with him will do anything at all about the situation? Probably am.

heyheyhey1982

Where i used to work in the good old days (2004-2008) people used to be on contract there fore where "self employed". They wheren't technically. any way they where earning between 70k-100k, and where paying maybe 5-10% at the end of the year. I couldnt understand when the tax year was coming to an end and they'd be discussing "7% this year" and falling around laughing.

This is madness how he paid 10k on earning 3.5million?? if he was PAYE he'd of paid around 1.5million?? so how can they write off so much. I'd love an accountant to come on and explain this as if everyone was doing this the state would collapse tommorow. The rich really don't pay Tax.

wandatowell

This is quite upsetting news

Cookie_Monster

gonedrinking wrote: »

I'm jus sayin', I have gross pay of 35k and net pay of slightly over 24k, hence I am paying roughly 1.5k pension and roughly 9.5k tax

:eek::eek::eek:

get that checked.
I paid about half that on slightly more money last year

alfa beta

ebixa82 wrote: »

In fairness he was a smart man who stroked/milked a corrupted system. If I knew how to pay only 0.1% tax and get away with it then I would.

Most people who say they wouldn't are liars.

There's a bit of a difference though between
(a) paying no tax and
(b) playing a large part in screwing up the economic well being of a whole country and paying no tax in the process

I think its the latter that has people so angry

gonedrinking

ebixa82 wrote: »

In fairness he was a smart man who stroked/milked a corrupted system. If I knew how to pay only 0.1% tax and get away with it then I would.

Most people who say they wouldn't are liars.

Most people who earned 10 mill wouldn't give a sh1t how much tax they paid. And how the fcuk was he a smart man when he pretty much single-handedly bankrupted Ireland? Please answer me that.

nxbyveromdwjpg

Dunno why youre all calling him himself a c*nt, if the tax system say he only needs to pay 10grand then what do you expect him to do?

If you only had to pay 2grand tax would you have paid 20,000 anyway for the craic?

Would you f*ck, of course not.

seamus

nm wrote: »

Dunno why youre all calling him himself a c*nt, if the tax system say he only needs to pay 10grand then what do you expect him to do?

If you only had to pay 2grand tax would you have paid 20,000 anyway for the craic?

Would you f*ck, of course not.

Personally if I was earning that kind of money I wouldn't be going to extraordinary lengths to reduce my tax bill. €10m minus €1m in tax is still a shedload of money.

gonedrinking

gonedrinking wrote: »

I'm jus sayin', I have gross pay of 35k and net pay of slightly over 24k, hence I am paying roughly 1.5k pension and roughly 9.5k tax

My 32k sal = 5k tax including USC and 2k pension
someone is ripping you off

TanG411

gonedrinking wrote: »

Most people who earned 10 mill wouldn't give a sh1t how much tax they paid. And how the fcuk was he a smart man when he pretty much single-handedly bankrupted Ireland? Please answer me that.

Do you think he gives a damn about Ireland? Of course not. He lives by the motto, ''Every man for himself''.

We should riot. A big nasty one with flamethrowers.

bonerm

I'm sure the man is probably thinking if he'd got a better accountant that he could have got it down to 5k.

Thank dog Fianna Gael are in power now and all this tomfoolery is going to change....

gerryo777

This guy also had 26 bank accounts, I wonder which one he supplied statements from when submitting his tax return.
I reckon the C.A.B should be called in here!!

Squiggle

Tax avoidance is legal tax evasion isn't. Wealthier people can afford the best tax planners and thus minimise their tax liabilities. If you have a problem with tax avoidance schemes it's the legislators that you should be directing your ire at.

danbohan

bonerm wrote: »

I'm sure the man is probably thinking if he'd got a better accountant that he could have got it down to 5k.

Thank dog Fianna Gael are in power now and all this tomfoolery is going to change....

thank dog indeed!

Pauleta

seamus wrote: »

Personally if I was earning that kind of money I wouldn't be going to extraordinary lengths to reduce my tax bill. €10m minus €1m in tax is still a shedload of money.

Personally i would tell my accountant to minimize my tax and not bother worrying about it whilst i swan about doing whatever rich folk do. He has a great accountant.

Worztron

David Drumm is a warped and greedy pr**k just like the rotten politicians that looked after him and continue to protect him.

thebaz

isnt this the guy that is going to sue the Irish state for stress - the ****er should be extradited and tried for treason ...

also, why does it take a U.S. court to find this out . Ireland would need a 10 year 100 million tribunal to find this out , then deem the outcome invalid, due to some legal technicality .. along with fingers fingleton , drumm is possibly the geediest **** this country has produced , and contributed to the breaking of the country

gonedrinking

Pauleta wrote: »

Personally i would tell my accountant to minimize my tax and not bother worrying about it whilst i swan about doing whatever rich folk do. He has a great a accountant.

How do you know he has a great accountant? How do you know he hasn't engaged in tax evasion? He had already been accused of deception and misconduct by his former employer (http://www.rte.ie/news/2011/0215/drummd.html) so how are you so sure he merely has a great accountant in this case?

alfa beta

probably just claimed artists tax relief based on the fact that anglo's books were complete fiction.

11:11

This is absolutely disgusting! How can this be?

What's also weird is the passion of all the posters here, yet nothing is being done. We truly don't care, because we're not doing anything about it. If nothing is stood up for it's taken as fine. Everybody take a leaf from North Africa's book!

Pace2008

nm wrote: »

Dunno why youre all calling him himself a c*nt, if the tax system say he only needs to pay 10grand then what do you expect him to do?

Perhaps entertain the notion that legality and morality are not necessarily the same thing?

thebaz

11:11 wrote: »

What's also weird is the passion of all the posters here, yet nothing is being done. We truly don't care, because we're not doing anything about it. If nothing is stood up for it's taken as fine. Everybody take a leaf from North Africa's book!

if one cent of our money is paid to this **** for stress, i will gladly do a stint in jail

gonedrinking

thebaz wrote: »

if one cent of our money is paid to this **** for stress, i will gladly do a stint in jail

Exactly, everyone has a breaking point. If David Drumm suing the Irish state means that he will step foot in this country again then I'm all for it.

take everything

gonedrinking wrote: »

I pay more tax than that a year on my 35k salary. Its fcuking disgusting how that bastard is allowed to just walk away from the destruction he caused in Ireland.

http://www.irishtimes.com/newspaper/frontpage/2011/0225/1224290841877.html

Good to see Chase bank suing the little knacker for the CC bills he ran up prior to bankruptcy.

TonyDub

Can anyone else find this story on the Irish Times website? It seems to have completely vanished for me, was working fine earlier.

ebixa82

heyheyhey1982 wrote: »

Where i used to work in the good old days (2004-2008) people used to be on contract there fore where "self employed". They wheren't technically. any way they where earning between 70k-100k, and where paying maybe 5-10% at the end of the year. I couldnt understand when the tax year was coming to an end and they'd be discussing "7% this year" and falling around laughing.

This is madness how he paid 10k on earning 3.5million?? if he was PAYE he'd of paid around 1.5million?? so how can they write off so much. I'd love an accountant to come on and explain this as if everyone was doing this the state would collapse tommorow. The rich really don't pay Tax.

Where where you working?

gonedrinking wrote: »

Most people who earned 10 mill wouldn't give a sh1t how much tax they paid. And how the fcuk was he a smart man when he pretty much single-handedly bankrupted Ireland? Please answer me that.

The answer is in your question. He managed to screw the country and paid only 10k on millions earned. (Did I really have to explain this? )

Nodin

I can't find the article.....

TonyDub

Not showing up on their search engine either. Looks like the Irish Times have had to pull it.

Pauleta

gonedrinking wrote: »

How do you know he has a great accountant? How do you know he hasn't engaged in tax evasion? He had already been accused of deception and misconduct by his former employer (http://www.rte.ie/news/2011/0215/drummd.html) so how are you so sure he merely has a great accountant in this case?

Look im no fan of the chap or condoning what him and his accountant may of done but he is innocent before proven guilty. Due to him never being convicted i presume his innocence.

Nodin

Here it is from elsewhere....

David Drumm paid less than €10,000 in income tax despite earning more than €10m during his time as CEO of Anglo Irish Bank, according to reports.
The Irish Times has said that documents filed in Boston as part of Mr Drumm’s bankruptcy application there show he received income tax rebates in 2004, 2005 and 2006

In 2007 Mr Drumm was the highest paid chief executive of an Irish bank, receiving a salary of €3.27m. According to a Revenue document filed in Boston he paid just €2,216.94 in income tax, however.
The sudden drop in Drumm’s tax bill coincided with his being appointed to the Anglo board.
In 2002 Mr Drumm paid €87,872 in income tax in 2002 and the following year the banker paid €135,451.35 in income tax.
The Irish Times reports that 2003 was the last year he was subjected to a significant tax bill.
In January 2005 Drumm was appointed chief executive of Anglo-Irish bank and earned €2.35 million that year.
The Revenue document filed in Boston shows that he received an income tax rebate of €7,598.78.
Drumm earned €3mn and received an income tax rebate of €4,950.84 in 2006.
Two years later he earned €2.13 million and paid €39,625 in income tax.

http://insideireland.ie/2011/02/25/david-drumm-paid-e10k-tax-on-e10m-income-report-9964/

Sticky_Fingers

Here's another link to the story:
http://businessandleadership.com/business/item/28608-drumm-paid-10-000-tax-on/

My favorite bit:

Drumm now lives in the US, where he has filed for bankruptcy. However, Anglo continues to persue him for debts of up to €8m. The Revenue has put in claims for €716 owing in income tax from 2008, and €121 in interest.

Good old revenue, on the ball once again....

flutered

bonerm wrote: »

I'm sure the man is probably thinking if he'd got a better accountant that he could have got it down to 5k.

Thank dog Fianna Gael are in power now and all this tomfoolery is going to change....

i hope that you are correct, but we reside in a bananna republic.