The Chairman of the Revenue Commissioners has emphasised its commitment to clear up tax issues outstanding from the tax scams of the past such as the Bogus Non-Resident Accounts, Ansbacher and Tribunal related cases.
Frank Daly said that Ireland has begun discussions with tax authorities in the Isle of Man, Guernsey, Jersey and the Cayman Islands on information exchange agreements.
'There will be no hiding place either at home or abroad for monies which have evaded tax,' he told a Waterford chamber of Commerce meeting.
He said agreements with tax haven countries would not only facilitate exchange of bank information but will also provide access to information about the beneficial ownership of companies and trusts.
The agreements would 'begin to close off the hiding places for money or funds on which tax has not been paid - and such hiding places are essential for successful large scale tax evasion,' he added.
'Several years ago, people put money in bogus non-resident accounts in the belief it was forever hidden from Revenue - now they find it is not. Those who put money offshore in the same belief must now face similar disillusionment,' he said.
