Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Let us consider the bogus non-resident accounts. I come from Gaoth Dobhair in west Donegal where there used to be a turf-burning station to generate electricity. I know many people who used to cut turf and sell it to the factory which burned it to generate electricity. To a person, they were advised by a financial institution to put their money in accounts on the Isle of Man. These are not tax planners but ordinary people who went out with a sleán to cut turf. They did seriously hard work and were put to the pin of their collar as a result of the advice they had received. They had to pay the very severe penalty, but the bankers walked free. That is the point about which I talk. The Revenue Commissioners refer to criminal prosecutions, but it is no wonder that the Isle of Man continued to target Irish residents or AIB and Bank of Ireland. Those concerned got away scot free. Nobody is being prosecuted.

Mr. Cody refers to evidence. The Revenue Commissioners have recovered the money extremely efficiently, including through applying penalties, but the deterrents for the future were not dealt with appropriately. That takes me to the question of how many tax evaders have faced criminal prosecution in recent years. How many companies have faced criminal prosecution for tax evasion? How many firms that advised on these structures have faced criminal prosecution? I say with hand on heart that I have considerable regard for the Revenue Commissioners. The agency is extremely professional, but there is a serious problem. If one is caught, one has to pay the penalties, unless there is a scheme that continues for years and years, in which case one can put up one's hands and not face rigorous penalties, but there is no real deterrent afterwards. I am not talking about the individual who has an account in England and forgets to declare it; I am talking about the serious players in the game.