Finance ministers and tax chiefs from 51 countries signed an agreement yesterday to automatically swap tax information, which Germany’s finance minister said heralded the end of tax evasion via secret bank accounts.

The number of Americans renouncing US citizenship increased 39% in the three months to September after rules that make it harder to hide assets from tax authorities came into force.

People earning money abroad from selling property, dividends, and investments will automatically be made known to the Irish tax authorities under proposals from the European Commission, similar to the US Foreign Accounts Tax Act (FATCA) rules.

THE annual pay of Irish tax specialists has soared by 15.6% this year compared to a 3% fall across the professional services industry, according torecruitment firm Marks Sattin.

THE 12,000-plus Americans living in Ireland have been warned that they must declare their income or assets before the end of the month.