Róisín Shortall (Dublin North West, Social Democrats)
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276. To ask the Minister for Finance the number of declarations received by the Revenue Commissioners following the enactment of section 56 of the Finance Act 2016, by source of income and or asset previously undeclared, in tabular form. [20234/17]

Róisín Shortall (Dublin North West, Social Democrats)
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277. To ask the Minister for Finance the tax, interest and penalties received by the Revenue Commissioners following the enactment of section 56 of the Finance Act 2016, by source of income and or asset previously undeclared, in tabular form. [20235/17]

Róisín Shortall (Dublin North West, Social Democrats)
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278. To ask the Minister for Finance the number of criminal prosecutions likely to arise following the implementation of section 56 of the Finance Act 2016 and the failure by persons to bring their affairs up to date by 1 May 2017; if he will allocate additional resources to the Revenue Commissioners to ensure that all persons who have failed to bring their affairs up to date are prosecuted following the precedent set in a case (details supplied); and if prosecutions will be given the highest priority. [20236/17]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 276 to 278, inclusive, together.

In my Financial Statement to the House on 11 October 2016 I indicated that I would act to restrict the opportunity for offshore defaulters to use the voluntary disclosure regime with effect from May 2017. In line with this undertaking, section 56 of the Finance Act 2016 provides that, as and from following the voluntary disclosure deadline date, the making of a qualifying disclosure will not be permitted where the tax liabilities involved relate to offshore matters. These matters include accounts held, property situated in, or income or gains arising or accruing in, a country or territory other than the State. Anybody who has tax liabilities of that kind and who has not acted to address them before the deadline faces the prospect of substantially higher penalties, publication in the Quarterly List of Tax Defaulters and possible prosecution.

I am advised by Revenue that, as at 26 April, 532 disclosures relating to offshore matters had been received since 11 October 2016, resulting in payments to Revenue of €13.6 million. 12 of those disclosures, giving rise to payments of €231,543, were received between 11 October 2016 and the enactment of the Finance Act 2016 on 25 December 2016.

I am advised also that, because the deadline of 30 April for making a qualifying disclosure relating to an offshore matter falls on the Sunday of a public holiday weekend, Revenue have decided to extend the period during which they will accept such disclosures until 5.30pm on Thursday 4 May 2017.

A full analysis of disclosures received will be undertaken by Revenue after the deadline for receiving them has passed, and information about them and the related payments received will be made available when that work has been completed.

The international environment is changing, with closer cooperation and information-sharing between tax authorities worldwide aimed at identifying those who seek to hide their profits or gains offshore. Revenue is at the forefront of international developments for Automatic Exchange of Information, which include the OECD’s Common Reporting Standard, the EU’s Directive on Administrative Cooperation and the US Foreign Account Tax Compliance Act initiative. These initiatives will provide Revenue with considerable amounts of data about offshore accounts, structures and assets, and Revenue has advised me that they are committed to making full and effective use of this information to pursue rigorously anyone who attempts to use such means to evade their tax obligations. I am advised also that cases will be investigated with a view to prosecution where the facts and circumstances warrant such a course of action.