Oireachtas Joint and Select Committees

Thursday, 12 March 2015

Public Accounts Committee

Revenue Commissioners Investigation of HSBC Offshore Accounts

10:00 am

Mr. Niall Cody:

I think one has to look at the scale of the numbers and the money in the accounts. We had individuals with €22 million at 2007 values linked to HSBC Switzerland. We collected €4.6 million. There will be some additional moneys. Back in 2012, my predecessor said we were looking at a figure of something in the region of a few million out of this. The Spanish had 3,000 account holders involved in what they said was tax evasion. We did not have anything like that in this area.