AN Irish firm owned by FIFA had revenues of €113m during its years in business according to a front page report in today’s Herald newspaper.
It is believed that Sepp Blatter was a director of FIFA Ireland Ltd and it is alleged that significant sums of money were transferred to FIFA headquarters in Switzerland.
The company was established in 2001 for tax purposes before ceasing in 2008. The story reveals that FIFA received money for the licensing rights of the 2002 World Cup.
"At that time the double taxation treaty entered into by Ireland with Japan gave better protection against international double taxation than the old Swiss/Japanese double taxation treaty," a FIFA statement said.
"Such arrangements are normal, otherwise one might be paying tax twice on the same income. The structure was in full compliance with all relevant laws and regulations."