Revenue to probe use of trusts

AN investigation into the use of trusts and offshore structures by people trying to escape paying tax is to be launched next September.

The Revenue Commissioners’ enquiries will focus on uncovering cases of people who have transferred funds and assets to discretionary trusts or offshore structures, such as foundations, establishments, trusts enterprises and offshore companies.

The Revenue has not placed a figure on how much unpaid taxes it expects to recoup, but it is believed the figure could be substantial.