Dáil Éireann Debate, Wednesday - 21 October 2009
147 Deputy George Lee asked the Minister for Finance if he will investigate the number of Irish residents who have bank accounts in Liechtenstein; if there is a loss to the Exchequer as a result of these bank accounts; and if he will make a statement on the matter. [37577/09]
View answerIt is a matter for the Revenue Commissioners to examine and investigate Irish residents seeking to evade Irish tax through the use of offshore accounts. A dedicated unit of the Revenue Commissioners, the Offshore Assets Group, was set up in 2001 and is specifically tasked with identifying Irish residents holding offshore accounts. To date this unit has recovered over €945m for the exchequer.
In relation to the jurisdiction of Liechtenstein I am pleased to advise the deputy that I recently signed a Tax Information Exchange Agreement with that jurisdiction. Once ratified, this agreement will enable bank account information and beneficial ownership information for companies and other entities established in Liechtenstein to be made available to Revenue on request.
