Willie Penrose (Westmeath, Labour)
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Question 171: To ask the Minister for Finance if, in regard to the Revenue Commissioners investigation into undisclosed funds invested in life assurance products, the number of persons who had made personal declarations prior to the deadline on 23 May 2005; the way in which this compares with the original estimate; the amount paid in settlements to date; if any estimate is available of the likely final amount of payments; and if he will make a statement on the matter. [33067/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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I am advised by the Revenue Commissioners that about 10,000 notices of intention to make a disclosure were received from taxpayers or agents on their behalf, by the 23 May deadline. In some instances the notices were described as protective, with taxpayers needing to establish whether in fact any liabilities arose. Revenue was not in a position to make any estimate of the numbers in advance of the deadline. Since that date about 5,000 individuals have followed up and made payments totalling €374 million whilst others have indicated that no liability arises. Revenue has been following up on those who having given notice of an intention to disclose did not do so and while final figures are not yet available, it now appears that a substantial number of them will have not have any additional liability. It is not possible at this stage to give a reliable estimate of the final amount likely to be recovered.