asked the Minister for Finance the amount of tax collected in 1985 under section 19 of the Finance Act, 1983; and if he will consider using his power under this section to introduce a confiscatory rate of tax on the ill-gotten wealth of major drug pushers.
Written Answers. - Finance Act, 1983, Section 19.
34.
Section 19 of the Finance Act, 1983, imposes a charge to tax on profits or gains notwithstanding that the source of the profits may be unknown to the Revenue Commissioners or that the profits may have been derived from an unlawful source or activity.
The section has been invoked for four occasions to assess income alleged to be of illegal origin, but no tax has, so far, been collected directly under it. Several further cases are under inquiry where the possible use of section 19 is indicated.
Section 19 cannot be used to introduce a confiscatory rate of tax on the income of major drug pushers. Profits charged under the section, whether illegal or not, attract normal rates of tax.