Dáil Éireann debate -
Tuesday, 20 Feb 2001

Vol. 530 No. 6

Written Answers. - Tax Collection.

Jan O'Sullivan

Question:

87 Ms O'Sullivan asked the Minister for Finance the progress made to date by the Revenue Commissioners in recovering outstanding DIRT liabilities identified in the parliamentary inquiry into DIRT by a sub-committee of the Committee of Public Accounts in regard to individual account holders; the amount of money recovered to date from individual account holders; the average payment made in each case; the amount of outstanding tax written off; and if he will make a statement on the matter. [4677/01]

Minister for Finance (Mr. McCreevy)

I am advised by the Revenue Commissioners that on 31 October last year they made a report to the Committee of Public Accounts giving details of the total amount of £173 million in DIRT, interest and penalties determined and collected as a result of the look-back DIRT audits of financial institutions.

Revenue have informed me that they are currently considering the question of the most efficient and effective approach to recovering underlying tax in respect of funds concealed in bogus non-resident accounts. Given the potentially very large numbers of accounts involved, determining the appropriate approach requires careful consideration to ensure that the process of pursuing the liabilities is effective in recovering amounts due. I am advised by the Revenue Commissioners that they are preparing guidelines at present for taxpayers and their agents and that these will be issued after their analysis of the issues, including legal aspects, has been completed.

The Deputy will appreciate that in the circumstances the figures requested by her are not available at this stage. I understand that in advance of the main investigation by Revenue, a number of individuals with large accounts have made disclosures to Revenue. The payments on account made by these individuals to date amount to £6 million, that is an average payment of £130,000 in these particular cases. I am informed that no amount of outstanding tax has been written off in these cases, nor has any consideration been given to writing off underlying tax due by the holders of bogus non-resident accounts. The Revenue Commissioners will pursue payment of this tax.