Ansbacher To Settle Irish Tax Claim
Ansbacher Cayman's chief executive, Richard Spilg announced last week that
the bank is willing to settle claims of tax evasion and fraud out of court,
if a suitable agreement can be reached with Ireland's Revenue Commissioners. A payment of EUR950,000 has already been made by the bank to the Irish Ministry
of Justice, in order to cover 25% of the costs of an earlier inquiry into its
tax affairs between the 1970s and late 1990s. Although the bank disputes the fact that such a liability exists, Mr Spilg explained
that it would be willing to settle the matter out of the court with the Irish
tax authority in order to avoid a protracted legal battle. "We have consistently said that we do not believe we have a tax liability.
The Irish revenue service has a different perspective and we are in consultations
with them to resolve the matter," he announced. .
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