Dáil Éireann Debate, Thursday - 6 May 2004
22 Mr. Wall asked the Minister for Finance the progress made by the Revenue Commissioners into allegations that tax improprieties may surround trust operations in a bank (details supplied) in Jersey; if the Revenue has reached a determination regarding whether these trusts facilitated tax evasion as distinct from tax avoidance; and if he will make a statement on the matter. [12985/04]
Amharc ar fhreagraI am advised by the Revenue Commissioners that substantial progress has been made in relation to this inquiry. Arising from a voluntary disclosure initiative the Deputy will be aware that 254 individuals came forward and made voluntary disclosures and to date the Revenue Commissioners have recovered €105 million for the Exchequer. The current phase of this programme is to pursue those individuals who have failed to come forward. It is clear from some of the disclosures and the amount collected to date that some trusts were used to evade tax.
