John Paul Phelan (Fine Gael)

I welcome the Minister of State at the Department of Finance, Deputy Parlon, to the House. I welcome this Bill but I have a concern in regard to the area of penalties for breaches of the legislation. I understand that the penalty for failure to make a return will be only €2,500 and if somebody makes a fraudulent return it will be about €6,000 or €7,000. Those sums are not significant enough for people who do not abide by the law. The Government should consider providing for higher fines.

The legislation is complex and lengthy. No doubt, much work has been put into it by the officers in the Department of Finance. I congratulate them on this worthy document.