Vol. 474 No. 8
41 Mr. D. Wallace asked the Minister for Finance the nature of the computer based information transfer links between the various financial institutions in this country and the Revenue Commissioners; and the steps, if any, being taken to link multiple information entities for individual taxpayers. [3926/97]
The Deputy has not specified the type of information transfer in which he is interested, i.e. whether it is normal commercial exchanges or exchanges of information which can be used to verify a taxpayer's return. Neither is it clear whether the information linking referred to is confined to information from financial institutions.
I will outline briefly the main range of exchanges between revenue and financial institutions.
As with any progressive organisation, revenue has a wide range of normal commercial information exchanges with financial institutions: Value Added Tax (VAT) Direct Repayment System; automated Entry Processing (AEP) Debit System; direct Debit Facility; bank GIRO Facility; PAYPATH.
In addition it has a number of exchanges which relate specifically to verification of taxpayer's returns or the prevention of fraud:
Third Party Returns:
Payments in excess of £3,000 for specified services; interest in excess of £500 paid without deduction of tax; acting as intermediary in the opening of foreign accounts.
Mortgage Interest Returns — Details of mortgage interest paid.
Irish finance houses — arising from the operation of Vehicle Registration Tax, revenue provides information in respect of vehicles to Irish finance houses as a fraud prevention measure.
Revenue also has a number of computer based exchanges with organisations other than financial institutions. The main such exchanges are:
Return of withholding tax details in respect of payments for professional services. PAYE Media Exchange
— End of year returns by employers.
— PAYE/PRSI allowance entitlements of employees supplied by Revenue to employers.
Service Charges
— Local authorities supply Revenue with details of persons who pay their service charges.
Health Insurance
— Some large employers supply details to Revenue.
Works Number Tape
— This service is provided by Revenue to employers whose computer system operates by reference to their employees' works number.
