Gerard Murphy
Question:235 Mr. Murphy asked the Minister for Finance the proportion in percentage terms and euro of DIRT tax due from financial institutions which was written off as part of the settlement with those institutions. [11604/03]
Written Answers. - Tax Collection.
As the Deputy will be aware from the publicity surrounding the DIRT inquiry, the Revenue Commissioners conducted an extensive audit programme on financial institutions during 1999 and 2000.
I am informed by the Revenue Commissioners that, in all, look-back audits on 37 financial institutions were undertaken and payments amounting to €220 million were made to Revenue. These payments represent all the DIRT which should have been deducted, together with the related interest and penalties. Accordingly, there were no write-offs of any DIRT liabilities.
Revenue made a report on the matter to the Committee of Public Accounts in November 2000. The committee commented on the outcomes of these audits in its final report on the DIRT inquiry on 3 April 2001.