Vol. 530 No. 6
57 Ms O'Sullivan asked the Minister for Finance the progress being made by the Revenue Commissioners with regard to the investigation of the tax affairs of 120 individuals linked to the Ansbacher deposits; when it is expected that the investigation will be completed; the total amount in payments secured as a result of the investigation; the average amount paid; and if he will make a statement on the matter. [4676/01]
I am advised by the Revenue Commissioners that the work of the special team established to investigate the tax affairs of those named in the report of the authorised officer on the examination of the books and documents of Ansbacher (Cayman) Limited is continuing. This entails examining the tax affairs of the individuals involved and connected entities, including companies and trusts, as far back as the 1970s. Consequently, the work is time consuming and detailed.
To date, a substantial volume of documentation, in excess of 60,000 documents, has been received from various parties involved. This documentation is being examined. Available Revenue powers are being used to obtain information as appropriate.
Payments on account averaging £214,000 per case have been received from 28 cases on the list – a total of £6 million – while a further seven cases with offshore investment or deposits have paid on account an average of £185,000 per case or a total of £1.3 million.
The Revenue Commissioners expect that the investigations will continue for some time and it is impossible to indicate when the operation will be completed.
