Reports in the Irish media have revealed that Allied Irish Banks (AIB) is set to attract yet more scrutiny from the Revenue Commission following allegations that some of the bonuses paid to senior executives were designated as expenses, and were therefore paid tax free.
According to a report in the Sunday edition of the Irish Independent, a private ledger detailing payments of expenses and bonuses was started in the early 1980s.
The details contained in the ledger, which was described by the Independent's unnamed AIB source as the "golden boys cheque book" were reportedly never posted on the bank's internal accounting system.
An official spokesman for AIB declined to comment on the ledger, arguing that it would be inappropriate to discuss such matters during the ongoing Revenue Commission investigation. However, he expressed confidence that all revenue matters regarding payments made by the bank would be in order.
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