Revenue expects up to €500m from tax evaders

SUMS totalling between €400 million and €500m may pour into the Revenue Commissioners by tonight, as the deadline for voluntary disclosure by tax evaders using single premium insurance policies expires.

Revenue chairman Frank Daly told the Public Accounts Committee (PAC) that by yesterday morning, a total of €106m had been paid to Revenue by some 1,972 single premium policy holders.

However, as about 10,000 people had notified Revenue that they had tax issues, a glut of last-minute payments is expected to be made today.