Blitz on tax cheats nets €1.5bn

INVESTIGATIONS into tax evasion and corruption have yielded the Revenue Commissioners €1.5 billion over the past five years.

The Revenue said since it begun in-depth probes into various tax cheating scams, ranging from Ansbacher Bank to offshore accounts, it has uncovered evidence that many millions more could be handed over to the Exchequer.

At the launch of its annual report for 2003 yesterday, Revenue chairman Frank Daly said he was confident that the new search of offshore accounts would yield more than the €500 million it has got so far in interest, tax and penalties from 11,000 people.