Michael McGrath (Cork South Central, Fianna Fail)
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102. To ask the Minister for Finance the current status of a Revenue Commissioners tax audit of the Irish Bank Resolution Corporation, which was under way at the time of the liquidation; the nature of the investigation; when it is expected it will be concluded; and if he will make a statement on the matter. [32708/15]

Michael Noonan (Limerick City, Fine Gael)
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I want to say clearly at the outset that I consider that it would be entirely inappropriate for me to comment on any relationship between the Revenue Commissioners and an individual taxpayer or business. The Revenue Commissioners cannot, for reasons of taxpayer confidentiality, disclose details of or comment publicly on the specific affairs of any individual business or taxpayer and I think that is entirely appropriate. 

I also think that intervention by me in the relationship between the Revenue Commissioners and a particular business or taxpayer would not be appropriate. It is a longstanding convention that the Minister for Finance does not intervene in the relationship between the Revenue Commissioners and an individual taxpayer, I would in that context, remind the House of the provision enacted by the Oireachtas in the Ministers and Secretaries (Amendment) Act 2011 whereby the independence of the Revenue Commissioners in the performance of their functions was enacted in Section 101 of that Act.

As previously outlined to the Deputy, the terms of reference of the proposed Commission of Investigation in relation to IBRC include the following explicit term of reference (1b) dealing with issues of public concern:

The Commission shall investigate all transactions, activities and management decisions, other than those relating solely to the acquisition of assets by NAMA which occurred during the relevant period and which "are specifically identified by the Commission as giving rise or likely to give rise to potential public concern, in respect of the ultimate returns to the taxpayer"

Both Houses of the Oireachtas have approved the terms of reference. It is important that I do not interfere with or prejudice the important work to be conducted by the Commission of Investigation. In those circumstances I have received legal advice that it would be inappropriate for me to comment publicly in relation to certain matters which fall under the scope of the Commission of Investigation.