Ireland's Green Party has welcomed the recent news that the Ansbacher bank is willing to come to a settlement with the Revenue Commissioners over charges that its Cayman subsidiary facilitated massive tax evasion by Irish HNWIs.
However, speaking to the media this week, Green Party spokesman, Dan Boyle argued that the EUR7.5 million payout does not compensate for the fact that no prosecutions have yet been brought against those involved in the scheme.
"The report from the High Court was put in 18 months ago to the Dail and, while we're seeing money being recollected by the Revenue Commissioners, we have yet to see people being prosecuted for tax evasion or for not cooperating with that High Court investigation," he observed, adding that:
"Until we see that kind of action, the public are still going to be a bit cold towards the idea that tax evasion is really being properly tackled."
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