Clare Daly (Dublin Fingal, Independent)
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119. To ask the Minister for Finance if his attention has been drawn to companies and persons mentioned in papers (details supplied); if so, the actions he has taken towards these companies. [50234/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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I am advised by Revenue that an analysis of the Panama Papers database was undertaken after it was published by the International Consortium of Investigative Journalists (ICIJ) and that a number of individuals, addresses and intermediaries with Irish connections were identified.  All of the individuals, companies and intermediaries concerned have been profiled using both Revenue’s internal systems and open sources, and all necessary enquiries are being made.

As respects the Paradise Papers, I am advised by Revenue that, if information from the Paradise Papers identifies individuals or entities associated with Ireland with possible Irish tax issues, whether it be evasion or aggressive tax avoidance, Revenue will examine the cases and intervene as appropriate.

Where cases involving offshore tax evasion are identified, the persons concerned are precluded from making a qualifying disclosure and accordingly now face the prospect of substantial (unmitigated) penalties, publication in the quarterly list of tax defaulters and possible prosecution.

Where anti-avoidance legislation can be applied to recover tax avoided through the use of unacceptable tax avoidance practices and schemes, Revenue will seek to apply such legislation with a view to recovering any Irish tax avoided together with all associated interest and tax avoidances surcharges.

Revenue has started to examine the Paradise Papers with a view to identifying all persons and entities with a possible connection with the State.  As cases are identified the information from the Paradise Papers will be compared against the information already in Revenue’s files. All information available will be assessed and if a compliance intervention is warranted the appropriate intervention will be opened.