Noonan to crack down on off-shore tax evasion
A new "strict liability criminal offence" to prosecute serious cases of tax evasion has been announced by Finance Minister Michael Noonan in his Budget 2017 speech, .
Mr Noonan has also announced an extra €5m for the Revenue Commissioners to allow them recruit 50 additional staff to tackle tax evasion.
Speaking in the Dáil Mr Noonan said: "The release of the so-called 'Panama Papers' earlier this year showed how defaulters use offshore structures and accounts to avoid paying tax."
He said that the Revenue Commissioners have a "difficult but necessary job".
He added that it is a role that they "perform very well but from time-to-time as tax evasion evolves and tax issues become evident, the Revenue Commissioners seek additional power and resources.
"In the Finance Bill, I will act to restrict the opportunity for offshore defaulters to use to voluntary disclosures regime with effect from May next year, and I will introduce a new strict liability criminal offence to facilitate the prosecution of serious cases of offshore tax evasion," Mr Noonan said.
