People with off-shore accounts face jail from May

High-profile businessmen, celebrities, and other individuals avoiding tax by keeping more than €100,000 in off-shore accounts will be prosecuted and potentially jailed for the “criminal offence” from next May under strict new laws.

People with off-shore accounts face jail from May

Ireland’s most senior tax official confirmed the situation during a detailed Dáil meeting in which it was also revealed that 40%-68% of people who self-assess for tax in this country under-pay the tax-man by thousands of euro every year.

Speaking during the latest meeting of the cross-party Dáil Public Accounts Committee, Revenue chairman Niall Cody said under plans due to be detailed in full next week, the Government will impose a fresh crackdown on international tax-dodgers.

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