Liz McManus (Wicklow, Labour)
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Question 81: To ask the Minister for Finance if he will confirm reports that 15 other major developers are being examined by the Revenue Commissioners following from the settlement between a company (details supplied) and the Revenue Commissioners; and if he will make a statement on the matter. [24939/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
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As the Deputy is aware I cannot, for reasons of taxpayer confidentiality, comment on the tax affairs of individual cases. However, I am advised by the Revenue Commissioners that examinations of the tax affairs of property developers are a feature of the risk- based programmes operated by Revenue.

As the Deputy may be aware, Revenue has committed to applying 25% of its audit and compliance resource to the construction sector in 2006 and this project is underway. This project, which is progressing satisfactorily, will obviously include property developers in its scope.

As at 31 May 2006 the key results from the project are: 1,362 audits had been completed with a yield of almost €48m including interest and penalties; The audit figure includes 46 audits on large property developers and major infrastructural projects (value >€10m); A further €4m was collected from 12,424 assurance checks; 361 site visits have been carried out, covering contracts whose total value of exceeds €1,000,000,000; The Commissioners have further informed me that the High Wealth Individuals Unit in Revenue's Large Cases Division has included the audit of 15-20 property developers in its audit plan for 2006.