Deadline runs out for tax evaders

Less than half of 1,600 bank customers identified in a multi-million euro tax evasion probe have settled their bills with the…

Less than half of 1,600 bank customers identified in a multi-million euro tax evasion probe have settled their bills with the State, one day before the deadline.

Revenue Commissioners has recovered €33.7 million from the high-end deposit account investigation, but said it was now chasing around 1,000 people who had not paid up.

Bank customers who had more than €100,000 in accounts at any time between 2005 and 2007, which may have been undeclared, were given a four-month amnesty last year.

Anyone availing of the voluntary disclosure scheme would have had their penalty reduced, would not be exposed in the tax defaulters list and would not be prosecuted.

This was launched to coincide with other investigations sparked by new laws, compelling banks and other financial institutions to hand over information on individual deposit accounts.

Some 1,800 people came forward by the September 15th deadline, but 200 of these later withdrew from the scheme, after claiming the money was not liable for tax.

The remaining 1,600 customers have until tomorrow to settle their tax bill.

But only 622 of these have submitted their outstanding payments by the close of business tonight.

Revenue said it will now be following up these cases.

PA