Revenue’s disclosure scheme nets €33.7m

THE clock is ticking on bank customers who have untaxed money hidden in deposit accounts as the Revenue Commissioners prepare to shut the door on an amnesty at midnight tonight.

Already the voluntary disclosure scheme announced seven months ago has brought in €33.7 million in taxes from income belatedly declared by 622 individuals, meaning they made an average payment of more than €54,000 each.

But up to yesterday a further 900 people had also notified Revenue that they intended making a declaration and as the last minute rush gets underway to comply with tonight’s deadline, takings are likely to grow.