Revenue targets crooked builders

THE Revenue Commissioners has set up a team of special investigators to go out and gather information against tax-dodging builders.

Compared by TDs yesterday to legendary television detective Columbo, the Revenue's Special Compliance Unit will build contacts with workers and trade unions in the industry, and other questionable sectors.

Revenue chairman Frank Daly said he regarded property developers and the construction industry as needing particular attention. Warning that there could be

another scam growing up, similar to the DIRT tax evasion scheme, Mr Daly said that the investigators will be out on the streets as the eyes and ears of the Revenue.

At present, the Revenue is also pursuing five construction companies, which avoided paying VAT through the use of a loophole closed off in last week's Budget one company deprived the Exchequer of 18 million. And the Revenue is also probing a

further 21 companies, advised to use the loophole by two tax consultants firms, which promoted the avoidance to its customers.

According to Mr Daly, the VAT avoidance was concentrated in Dublin, as he conceded the Revenue was closer to the action outside of the capital. In the new year, the Revenue will be going after the second batch of offshore account holders, those in the Irish Life and Permanent's Isle of Man operation.

Already 1,200 customers of Irish Life and Permanent's bank in the Isle of Man have come forward, but there could be another 2,000 account holders still out there.

Already 126 million has been returned to the Exchequer from accounts in the Bank of Ireland's Jersey branch.

Across all the tax scams operating in the past, the Revenue has reclaimed 922 million.