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Revenue collects €500m in unpaid tax

Revenue Commissioners - €500m collected
Revenue Commissioners - €500m collected

The Revenue Commissioners have collected €500 million from offshore account holders, who had until last Thursday to declare their tax liabilities.

In their annual report, which has just been published, the commissioners said 15,000 people had indicated they would be making such settlements, although by last Thursday only 11,000 had done so.

The commissioners' chairman, Frank Daly, said he expected the total to increase further in the coming weeks.

Mr Daly added that this brought the total collected so far from the holders of offshore accounts to €650 million.