Dáil Éireann Debate, Wednesday - 23 June 2004
63 Mr. Quinn 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 Revenue has reached any determination as to whether these trusts facilitated tax evasion as distinct from tax avoidance; and if he will make a statement on the matter. [18604/04]
Amharc ar fhreagraI am informed by the Revenue Commissioners that this investigation is still ongoing and that substantial progress has been made. Arising from a voluntary disclosure programme, 254 individuals came forward and made voluntary disclosures. To date in excess of €105 million has been received by the Revenue Commissioners. They now intend to pursue vigorously those individuals who failed to come forward, using all powers available. Criminal prosecution will be considered in these cases subject to obtaining the relevant evidence.
It is clear from some of the disclosures and the amount collected to date that some trusts were used to evade tax.
