Comprehensive measures to deal with problematic Irish registered non-resident companies were introduced by the Minister for Finance, Mr McCreevy, as part of the Finance Bill.
With almost 200 sections, the Bill included the controversial, sweeping powers granted to the Revenue Commissioners to gain access to accounts with financial institutions.
However, Fine Gael's Finance spokesman, Mr Michael Noonan, said that in relation to access to bank accounts "the Minister is missing the point and missing the target".
The Minister sought to impose very severe penalties on the professionals who advised and assisted taxpayers in ordering their affairs.
"It is the banks, however, not the tax professionals, who have systematically promoted tax evasion, who have colluded with their customers in tax evasion, and who are now being found out."
Mr McCreevy told the Dail that the provisions aimed at non-resident companies were for those firms being used "for questionable purposes by persons with no connection with this State".
He also announced that separate legislation under company law would be introduced soon which will require every new company to prove it intends to "carry on an activity in the State" before it will be registered.
Each company will also have to have an Irish resident director or provide a bond for £20,000 as surety if the company fails to comply with company law and tax requirements. Any one person will be able to hold a maximum of 25 directorships, so as to "curb the use of nominee directors as a means of disguising beneficial ownership or control".
Under the Finance Bill, companies which register in the State will be deemed as resident for tax purposes. This will not apply to companies trading in the Republic or where the company is ultimately controlled by an EU member-state or a tax treaty country, or if the company is quote on a recognised stock exchange.
Companies will have to say where they are tax-resident, and will have to identify the ultimate beneficial owners where they are claiming non-residence because of treaty provisions.
The Minister also announced provisions to deal with offshore trusts and companies.
Referring to comments on the controversial Revenue measures, Mr McCreevy said that the Revenue Commissioners would not "engage in trawling exercises of all and every account". The powers would be "used responsibly".