Responding to a question by Labour Finance Spokesperson, Joan Burton this week regarding the collection of EUR1.52 billion in previously unpaid taxes following recent investigations, Irish Finance Minister Charlie McCreevy dismissed the figure as "minute".
According to reports in the Irish media, Mr McCreevy observed that the amount collected from bogus non-resident account holders and other tax evaders with undeclared offshore assets represented less than 0.5% of actual tax paid over the last 20 or 30 years.
The Finance Minister's attitude is in sharp contrast with that of Revenue Commission chief, Frank Daly, who recently welcomed the amount collected, explaining that:
"The success of our offshore investigations is due to a number of factors: the availability of increased powers, more international cooperation to combat evasion and money laundering, and an obvious determination on Revenue's part to follow through on investigations."
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