Brian Keegan: The Tax Take

Brian Keegan: The Tax Take

Now is not the time for Revenue to drop the carrot and stick approach

One billion euro. That’s how much Revenue took in the last time they mounted a high profile campaign to winkle out the tax due on assets and money held offshore. That particular offshore assets investigation, over a decade ago, was so successful that the Revenue’s carrot and stick technique has been adopted by revenue authorities across the world – in Italy, in the UK, in the US. They should have patented it. But now, after this last foray which is to end this Thursday, the technique is to be abandoned. Taxpayers are being told they have a final chance to settle up the taxes they haven’t paid on offshore money. Why? What has changed?

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