Tommy Broughan (Dublin North East, Labour)
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Question 35: To ask the Minister for Finance the progress made to date by the Revenue Commissioners in its investigation into the reported use of single premium insurance policies as a tax avoidance mechanism; if the precise nature of the investigation has been decided; the information available to his Department or the Revenue Commissioners on the extent of this practice; and if he will make a statement on the matter. [2464/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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I am advised that the Revenue Commissioners propose to initiate an investigation into the use by some taxpayers of insurance-based products to hide income or gains not declared for tax purposes. As the formal investigation has not yet commenced, I am not in a position to comment further at this stage.