Dáil Éireann debate -
Tuesday, 27 Jun 2000

Vol. 522 No. 2

Written Answers. - Ansbacher Deposits.

Proinsias De Rossa

Question:

33 Proinsias De Rossa asked the Minister for Finance the progress that has been made by the Revenue Commissioners to investigate the tax affairs of 120 individuals linked to the Ansbacher deposits; when it is expected that the investigation will be completed; and if he will make a statement on the matter. [18155/00]

Minister for Finance (Mr. McCreevy)

I am advised by the Revenue Commissioners that, while progress is being made in the investigations, they are very detailed and time consuming and are likely to continue for some time. It is not possible at this stage to make any reliable estimation as to when the investigations will be completed.

It will be appreciated that the investigations cover events from the 1970s onwards. In the present phase of the work all available information is being collated. The investigations cover not only the names identified in the report of the authorised officer but also associated persons and trusts. In the course of their work, the Revenue investigators are using, where appropriate, all available powers including new powers included in the 1999 Finance Act. As part of this, infor mation is being obtained from financial institutions and others under High Court orders.