The Revenue Commissioners say they are 100% certain that the voluntary disclosure scheme for those who invested undisclosed incomes in investment products will be successful.
The deadline for indicating participation in the scheme was set for the close of business this evening.
By the start of business this morning, the Revenue had received at least 5,000 voluntary tax declarations as well as another 3,000 unopened envelopes connected with the scheme.
They had also received at least 50 tax settlement cheques even though settlement is not required for another 60 days. In some cases hundreds of thousands of euro have been paid over in settlement.
The investigation is targeting all those who have invested untaxed income in lump sum or unit-linked investment funds associated with life assurance policies. But Revenue has also assured all those who invested legitimate funds in investment products that they have nothing to fear.
It will be the end of July before it is known what the tax haul will be.
