EU banks crack down on tax dodgers

TAX dodgers with money stashed overseas face a fresh crackdown from tomorrow when new rules kick in to force foreign banks to disclose details of their Irish depositors.

The EU Savings Tax Directive means banks across the EU will provide the Revenue Commissioners in Ireland with a list of Irish customers and details of interest payments made to them.

Irish banks will also be obliged to provide details of customers resident outside Ireland but within the EU. Revenue will collect the details them on to the authorities in individual EU states.