| tax 2002-11-20 |
| The Chairman of the Revenue Commissioners has emphasised its commitment to clear up tax issues outstanding from previous tax scams such as the Bogus Non-Resident Accounts, Ansbacher and Tribunal-related cases.
Frank Daly said that Ireland has begun discussions with tax authorities in the Isle of Man, Guernsey, Jersey and the Cayman Islands on information exchange agreements. 'There will be no hiding place either at home or abroad for monies which have evaded tax,' he told a Waterford Chamber of Commerce meeting. He said agreements with tax haven countries would facilitate exchange of bank information and provide access to information about the beneficial ownership of companies and trusts. He said that the agreements would begin to close off hiding places which are essential for successful large-scale tax evasion. Mr Daly warned people who had placed money in offshore accounts would face similar fates to those who had put money in bogus non-resident accounts in the belief it had been hidden from Revenue. |