Irish Revenue Commission Earns 650m Euros From DIRT Campaign
The Irish Revenue Commission has netted some 650 million euros during its three
year campaign to root out investors who placed their money in bogus non-resident
accounts to avoid paying Deposit Interest Retention Tax (DIRT). According to figures quoted by the Belfast Telegraph, the latest stage of the
campaign by the tax authorities saw 30,000 letters sent out to suspects last
October, which was then followed up by a further 40,000 in January of this year.
In all, this phase earned the government's coffers 203 million euros. The revenue
Commission also plans to issue a further 10,000 letters next month urging suspects
to volunteer information. The first two phases of the campaign netted the Revenue 220 million euros
and 227 million euros respectively in DIRT settlements, the second phase taking the form of amnesty, where suspects were encouraged to volunteer information
on their investments. .
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