Revenue to target overseas properties

THE Revenue Commissioners has revealed details of the direction its inquiries for its Offshore Assets Group (OAG) will take.

The OAG, which is in the process of tracking down the thousands of individuals who held overseas accounts, has also targeted anyone who purchased property abroad with undeclared income.

Anyone with a home in Spain or France, or anywhere else, must declare how much income they receive from their overseas property or capital gains accrued by selling it.