Revenue Commissioners’ haul from tax probes passes €2bn landmark

AT the end of August the Revenue Commissioners’ take from various tax investigations has shot through the €2 billion barrier.

New figures reveal that by then, the total tax from various investigations ranging from bogus non-resident accounts to investigations into offshore assets have yielded €2.06bn.

That represents a jump in returns of €385 million on the €1.68bn recovered when Revenue last published figures at the end of May 2005.

In the case of single premium policies the take has gone from €312m six weeks ago to €351m.

At the time of that disclosure it was predicted that further investigations would add to the pot in the case of the single premium tax dodgers and that has proved to be the case.

In all 4,600 cases have been discovered under both phases of the process. As of now the €351m in unpaid tax and penalties worked out as follows: up to €112m was unpaid tax and €239m of the figure comprised interest charges and stiff penalties that those caught in the net were forced to hand over.

At the time of the last disclosure Revenue said it expected to receive further payments over the next few months.

Some individuals had sought an extension of the voluntary disclosure deadline, which was on July 22, 2005.

At the time Revenue made it clear it was determined to go after and identify all those who had used such products for tax evasion, and who had passed up on the opportunity to make voluntary disclosures.

The most recent figures show that extra monies are being recovered across the spectrum with the take from Bogus Non Resident Accounts rising from €808m to €814m.

This has been one the biggest tax scams to date involving 12,000 cases.

It is topped however by offshore assets where 13,294 cases have come to hand involving a total of €758m in tax and penalties.