Eight of Ireland’s wealthiest outline tax arrangements to Revenue

Eight of Ireland’s wealthiest individuals have given Revenue details of their tax planning arrangements in an effort to reduce the penalties they would pay if their schemes were later found to fall foul of tax rules.

20th January, 2007

Eight of Ireland’s wealthiest individuals have given Revenue details of their tax planning arrangements in an effort to reduce the penalties they would pay if their schemes were later found to fall foul of tax rules.

Revenue said last week that eight taxpayers had submitted so-called ‘‘protective notifications’’ since new measures to stamp out aggressive tax schemes were introduced in last year’s Finance Act.

The notification mechanism...

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