The Revenue Commissioners have begun a major campaign to pursue the holders of offshore accounts in all financial institutions, including accounts held in Northern Ireland.
The holders of these accounts are being given until the 29 March to come forward and make a voluntary disclosure of all taxes due on such accounts, or face the prospect of investigation.
The initiative follows a meeting in December between the Chairman of the Revenue Commissioners and the chief executives of all the banks and building societies in the country.
It is expected that the banks will be advising their off-shore customers of the advantage of making a voluntary disclosure within the time frame set out.
Revenue sources have indicated that to date they have collected €105m from 254 people who had off-shore accounts with the Bank of Ireland Trust Company in Jersey, an average of €400,000 per account.
The sources have also indicated that account holders with Irish Permanent in the Isle of Man have also been pursued to date.
The Revenue say they expect tens of thousands of people to come forward before the end of March.
