Oireachtas Joint and Select Committees

Thursday, 2 July 2015

Public Accounts Committee

2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 15: Local Property Tax
Chapter 16: Taxation of Rental Income
2014 Account of the Revenue Commissioners

10:00 am

Photo of Joe CostelloJoe Costello (Dublin Central, Labour)
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On the issue of non-compliance, clearly this was a significant issue with regard to offshore accounts in 2013-14. The total yield from the Revenue Commissioners investigation into offshore accounts exceeded €1 billion in that year and the various yield from audits and compliance interventions was €610 million. These are large sums of money. In addition, 437 settlements were published in Iris Oifigiúil and 483 cases of tax avoidance were identified. The amounts involved is significant and the Revenue Commissioners have done considerable work trying to resolve this issue. Is this the pinnacle of difficulty the Revenue has experienced?