Vol. 495 No. 2
57 Mr. Stagg asked the Minister for Finance if he will bring forward tax related measures to deal with the problem of money laundering by Irish registered non-resident companies; and if he will make a statement on the matter. [19517/98]
59 Ms McManus asked the Minister for Finance the progress, if any, made in relation to the promised review of legislation governing Irish registered non-resident companies; if he has received the report of the review group; if he will publish the report and when he intends to bring legislation before Dáil Éireann, particularly with a view to strengthening the provisions of section 882 of the Taxes Consolidation Act, 1997; and if he will make a statement on the matter. [19610/98]
I wish to take Questions Nos. 57 and 59 together.
My Department, the Revenue Commissioners and the Department of Enterprise, Trade and Employment are at an advanced stage in examining proposals to be included in a comprehensive package of measures under company law and tax law to effectively curb the misuse of Irish registered non-resident companies. As soon as this work is completed, the matter will be brought to the Government for decision on what action needs to be taken.
As the Deputies will appreciate, the issues involved are complex and it will be necessary to ensure that the measures adopted are enforceable, target the areas of abuse and do not adversely affect legitimate business. Nonetheless, I expect to be able to bring proposals to Government in the near future.
