Revenue recoups €700m from tax evaders

The Revenue Commissioners collected €700m on foot of tax evasion investigations last year, according to reports this morning.

The figure is believed to be one of the largest amounts recouped by the Exchequer in any one year.

The bulk of the money was collected from bogus non-resident account holders, including those involved in the Ansbacher scam and the National Irish Bank's off-shore investment scheme.

Revenue officials also recouped unpaid taxes from people who failed to declare income from rented overseas holiday homes and have vowed to intensify their investigations in this area.