Taxman issues final bogus accounts warning
The taxman today issued a final warning to the holders of bogus overseas bank accounts who have failed to pay their dues.
A 60-day deadline for the payment of taxes on the false accounts runs out on December 17, and after that anyone who has not made a declaration to Revenue Commissioners faces additional penalties and extra interest, together with the possibility of criminal prosecutions – as well being forced to make full settlements.
The time limit was fixed earlier this year and has resulted in the receipt of more than €50m by the tax authorities.
That figure was on top of €227m paid up under a previous voluntary scheme.
A spokesman for the Revenue Commissioners said “a significant” increase on the €50m was expected over the next 10 days.
The taxman added: “Bogus account holders should contact us before we contact them.
“Those who sit around waiting for a letter could end up being investigated with a view to prosecution. The Revenue Commissioners are continuing to evaluate information available to identify account holders not yet contacted who may be suitable for such investigation.”
New letters will be sent out to possible account holders early in the New Year.
In October contact was made in connection with 13,500 non-Irish resident accounts that had 30,000 Irish addresses linked to them.
The move on bogus accounts held by individuals followed a series of tax repayments by Irish banks and other financial institutions in relation to the non-payment of Deposit Income Retention Tax (DIRT) by their customers over a period of years.
So far a total of €500m has been repaid, €220m of that sum by financial institutions.
