Oireachtas Joint and Select Committees

Tuesday, 7 November 2017

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Finance Bill 2017: Committee Stage

6:00 pm

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

We are dealing with tax relief at source so it goes directly to the financial institution and the institution then writes down the mortgage to the appropriate level. It goes straight from Revenue to the financial institution. In light of the revelations we have seen in the past 48 hours, in particular with the State-owned bank, that bank which would receive the mortgage interest relief on behalf of its customers and which failed to provide the Revenue with details of potential tax evasion, is the Minister satisfied that the bank which is predominantly owned by him, given that he is the main shareholder, has at this stage provided to the Revenue officials all of the relevant data that were required from its subsidiary in the Isle of Man? Is the Minister also satisfied that neither his predecessor nor anybody else in the Department was aware that the bank was targeting Irish individuals for tax avoidance measures? Has he investigated whether the public interest director who was appointed by his predecessor to the bank was aware of that happening during that period?

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