Dáil Éireann Debate, Thursday - 3 March 2005
28 Mr. Costello asked the Minister for Finance the progress made by the Revenue Commissioners in their investigation into the reported use of single premium insurance policies as a tax avoidance mechanism; if the precise nature of the investigation has been decided; the information available to his Department or the Revenue on the extent of this practice; and if he will make a statement on the matter. [7151/05]
View answerI am advised by the Revenue Commissioners that they propose to initiate an investigation into the use by some taxpayers of insurance-based products to hide income or gains not declared for tax purposes. The preliminary work to underpin the investigation is nearing finality and I understand that the formal investigation will be announced shortly by the Revenue Commissioners. I am not in a position to comment further at this stage.
