CAB recovered €16m in taxes and interest last year

SUSPECTS targeted by the Criminal Assets Bureau (CAB) coughed up over €16 million in taxes and interest on undeclared income last year.

CAB also made further tax demands of €5.5m during the year, and secured long-term and temporary court orders freezing property worth a total of €2.7m to prevent individuals suspected of illegal activity from cashing in their assets.

Long-term freezing orders last seven years and for the first year time since the bureau was set up in 1996, property placed under those orders was disposed of and the proceeds passed on to the Minister for Finance for use as general exchequer funds.