Revenue monitors wealthy people

THE Revenue is monitoring wealthy individuals to ensure they are tax compliant.

The Revenue’s annual report for 2004 reveals that its Large Cases Division, which focuses on individuals who have a net worth over €50 million, has been in contact with multi-millionaires to ensure they do not abuse the tax system.

Revenue chairman Frank Daly said: “we have formed a Large Cases Division and part of their remit is to focus on high (net) worth individuals, not in the sense that we have a fundamental belief that they are more likely than any group to abuse tax law, but to ensure somebody with significant income and assets are paying their taxes. We are putting more of a focus on them than we did in the past.”