Authorised Revenue officers are empowered to make an application to a judge of the High Court seeking an order requiring financial institutions to supply names, addresses and other relevant information concerning account holders who may have held bogus non-resident deposit accounts. Such applications are made under section 908 of the Taxes Consolidation Act, 1997, as amended by the Finance Act, 1999. I am advised by the Revenue Commissioners that information supplied by the financial institutions under section 908 orders will be the principal basis of identifying bogus non-resident account holders who did not avail of the voluntary disclosure scheme in 2001.
I am advised by the Revenue Commissioners that seventeen applications for orders under section 908 have been made and have been granted. When one includes institutions that have been taken over or amalgamated with other institutions, these orders seek information in respect of accounts in 23 financial institutions. One other application in relation to one other deposit taker is before the courts at the moment. Information that is being supplied by deposit takers under court orders is becoming available on a phased basis.
Work commenced in February 2002 on the initial lists of over 1,800 account holders identified in the DIRT look-back audits. Very large volumes of information are being reported to Revenue under the High Court orders. Work in relation to the examination of the first batch of taxpayers identified under the High Court orders commenced on 11 October 2002. This work relates to 13,500 non-resident accounts that had 30,000 Irish addresses connected with them. As further information is received, more enquiries will be made on a phased basis.
