Tax defaulters face jail in crackdown

TAX defaulters with offshore accounts face prison if they fail to own up to the Revenue Commissioners by next Monday. And, for the first time, accounts held in the North are being specifically targeted.

The crackdown on tax dodgers has so far netted over €1 billion in tax, interest and penalties and that figure is expected to increase over the next few months. Holders of bogus accounts account for €714 million of that figure.

The Revenue published its latest list of defaulters last Friday covering the period October 1 to December 31. The total yield for that period was €78.87 million. All of the defaulters had failed to make a voluntary disclosure and many have received substantial penalties.