The majority of Irish residents who took advantage of the Revenue Commission's voluntary disclosure scheme to regularise their tax affairs have had their liability estimates accepted by the tax authority, it emerged at the weekend.
Speaking to the Sunday Tribune, a Revenue spokesman revealed that although he could not confirm the exact numbers for operational reasons, the "vast majority" of the 14,600 disclosures made had been accepted.
However, a random sample of the declarations will reportedly be investigated, in addition to some submissions which contain errors, or are considered by the Revenue Commission to fit a particular risk profile.
Having collected approximately EUR711 million in unpaid taxes, interest and penalties, the Republic's tax authority is now planning the launch of the second stage of the probe, which will seek out those who failed to voluntarily disclose their unpaid tax liability.
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