Vol. 525 No. 1
27 Proinsias De Rossa asked the Minister for Finance the progress that has been made by the Revenue Commissioners in investigating the tax affairs of 120 individuals linked to the Ansbacher deposits; when the investigation will be completed; and if he will make a statement on the matter. [23462/00]
I am advised by the Revenue Commissioners that the investigation into the tax compliance position of the individuals named in the report of the authorised officer on the examination of the books and documents of Ansbacher (Cayman) Limited, which began in October 1999, is ongoing. The investigation covers events from the 1970s onwards and, in addition to the individuals named, covers associated persons and trusts. Because of its nature, the investigation is time-consuming and detailed.
To date, payments on account totalling £4.2 million approximately have been received in cases directly related to the authorised officer's report and a further £1.2 million has been received by the Revenue investigators from other persons with offshore assets.
Where necessary, the various powers available are being used. For example, High Court orders for the production of information have been obtained in the case of one individual and three institutions. In addition, notices under section 900 of the Taxes Consolidation Act, 1997, have been served on 13 persons. These notices formally require the production of documents and information and are used where a person has failed to comply with informal requests. Other powers are or will be used where appropriate.
The investigation will continue for some time and it is not possible to make any reliable estimate as to when it will be completed.
