Dáil Éireann díospóireacht -
Tuesday, 30 Sep 2003

Vol. 571 No. 1

Written Answers. - Non-Resident Accounts.

Jack Wall

Ceist:

191 Mr. Wall asked the Minister for Finance the number of High Court orders sought to date by the Revenue Commissioners under the Finance Act 1999 to require financial institutions to supply names, addresses and other relevant information regarding holders of bogus accounts at the latest date for which figures are available; the number of cases in which orders have been granted; the general progress made to date in identifying the holders of such accounts who did not avail of the recent voluntary disclosure scheme; and if he will make a statement on the matter. [20777/03]

Minister for Finance (Mr. McCreevy)

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 18 applications for orders under section 908 have been made and have been granted. When one includes financial institutions which have been taken over or amalgamated with others, these orders seek information in respect of accounts in 26 financial institutions. No further applications for such orders are pending in regard to the bogus non-resident account inquiries.

I am further advised by the Revenue Commissioners that information being supplied by the financial institutions under the section 908 orders has been the principal basis of identifying bogus non-resident account holders who did not avail of the voluntary disclosure scheme in 2001, although some 1800 account holders had previously been identified in the course of the work carried out during the DIRT look back audits. Work commenced on those cases in February 2002.

Very large volumes of information have been and continue to be reported to Revenue under the High Court orders and work in relation to this information commenced on 11 October 2002 with the issue of general enquiry letters. Further general issues of inquiry letters were made in January, May, July and September 2003. These letters relate to 73,000 non-resident accounts that had Irish addresses connected to them. To date 142,000 inquiry letters have been issued to taxpayers in respect of these non-resident accounts and it is expected that there will be two further general issues of inquiry letters.

While it is clear that Revenue is facing a long programme of investigations the Commissioners have informed me that they are satisfied that significant progress has been made in this, the final phase of the investigations. Since 15 November 2001, payments of €223 million have made to Revenue by taxpayers who held bogus non-resident accounts. This is in addition to the €227 million paid as a result of the 15 November 2001 voluntary disclosure scheme and the €220 million in DIRT paid by financial institutions.

Question No. 192 answered with Question No. 149.