Five new tax inspection teams have been created in the Republic of Ireland under the Revenue restructuring programme, according to a report in the Irish Independent this week.
The new Special Compliance Units have been tasked with observing the spending and investment habits of Ireland's HNWI, and ensuring that their tax returns match their spending patterns.
The Independent revealed that the inspectors will be 'located in small teams throughout the regions,' and explained that: 'their task is to monitor the buying of high-value cars and property accumulation'. The report continued:
'The teams will scan newspapers, keep an eye on planning permissions and monitor anyone building up large land banks.'
This follows the creation of a new investigations department in the wake of the Ansbacher report last year, designed specifically to target high net worth individuals and large companies.
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