Not enough work to establish true cost

THE Revenue Commissioners yesterday admitted it had not done enough to establish the true cost of billions in controversial tax breaks.

Although new measures to capture the cost of such tax reliefs will be introduced, the Revenue will not be able to produce a final estimate before 2007.

Speaking before the Oireachtas Finance and Public Service Committee yesterday, Revenue chairman Frank Daly conceded the organisation had not done enough in the past to pin down the cost of tax incentives.