Oireachtas Joint and Select Committees

Wednesday, 29 November 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Paradise Papers: Chairman, Office of the Revenue Commissioners

6:15 pm

Mr. Niall Cody:

They have 21 days. We wrote on 20 November.

One of the other interesting aspects of the offshore assets project is its effectiveness. What we were aiming to deal with was moneys moving mostly through Irish parts of the financial institutions and being placed offshore. The yield from our offshore project - over €1 billion - is very significant. I noted the equivalent yield of HMRC's offshore assets project in the United Kingdom. I had the good fortune to be watching the proceedings at one of the House of Commons committees when my counterpart was talking about some of these issues. Reference was made to a yield from the offshore assets project in the region of £2.5 billion. Proportionately, that is-----

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