Oireachtas Joint and Select Committees

Tuesday, 17 June 2014

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation

Assessment of Measures Relating to Corporation Tax in Ireland: Discussion

3:30 pm

Professor Jim Stewart:

My understanding is that there was a criminal problem, but the US authorities then stated they would investigate further potential criminal issues. It was because of this threat of criminal investigation that the Swiss banks handed over a lot of tax statistics. In many instances, no criminal intent was proved. The message that was sent was that an investigation would take place if the institutions in question did not comply with the requirements to provide extra data and so on.

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