Vol. 483 No. 1
37 Ms Shortall asked the Minister for Finance whether he intends to introduce further whistle blowing measures for accountants and other professional advisers in the 1998 Finance Bill in view of the McCracken tribunal report; and if he will make a statement on the matter. [19695/97]
Deputies will be aware that immediately on publication of the tribunal report, I requested the Revenue Commissioners, in conjunction with my Department, to carry out a review of their existing powers, which are substantial, in the light of the findings of the tribunal. That review is in progress.
The last major change in Revenue powers was given effect to in the 1992 Finance Act, and included reporting arrangements for domestic institutions in relation to the opening of foreign bank accounts by Irish residents. Revenue powers were further extended in 1993, and penalties for tax evasion were significantly increased, in conjunction with the introduction of the tax amnesty. The 1995 Finance Act also introduced a provision, section 172, to which the Deputy's question appears to refer, which obliges an auditor or tax adviser who in the course of his or her normal work for a client company becomes aware of certain material tax offences committed by the company, to communicate particulars of the offences to the company and request it to either rectify the situation or report the offences to the Revenue Commissioners within six months after the communication.
If the company does not do so the person is obliged to cease to act for the company as auditor or as tax adviser for up to three years or until the matter has been rectified, if that is earlier. An auditor who is required to resign under the section must notify the company and send a copy of the notification to the Revenue Commissioners.
I assure Deputies that if the present review of Revenue powers indicates that additional powers are required and these are shown to be desirable and likely to be effective, they will be included in the Finance Bill.
