Latest Revenue audits garner €12.6m

Updated: 22:13, Wednesday, 31 May 2006

Audits by the Revenue Commissioners of 12 wealthy individuals has yielded €12.6m in interest payment and tax.

1 of 1Revenue - Insurance policies probe
Revenue - Insurance policies probe

Audits by the Revenue Commissioners of 12 wealthy individuals has yielded €12.6m in interest payment and tax.

At the announcement of the annual report for the Revenue Commissioners, Chairman Frank Daly said significant resources were being targeted at high net worth individuals.

The special investigations by Revenue brought in €530m last year.

Included was its latest probe into single premium insurance policies which yielded €382m.

Mr Daly said he was surprised at the scale of money involved. The Revenue now has 300 high net worth individuals on its books with assets of more than €50m each.

The tax authorities are also to focus on the construction sector.

Revenue announced a new facility for PAYE workers to claim allowances on line.

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