Wednesday October 21, 2020

New disclosure scheme for ‘hot money' investors

The Revenue Commissioners will announce a voluntary disclosure scheme this week for people who invested “hot" money in life assurance policies in the late 1980s and 1990s.

9th April, 2005

Those who come forward under the voluntary disclosure scheme will incur lower fines and penalties, and will not have their names published in the Revenue's quarterly defaulter lists.

They will have about six weeks to make a declaration of intent to make a disclosure. Payments are expected to fall due in mid-July, assuming that the usual 60-day disclosure period applies. Provisions for the investigation were included in this year's Finance Bill.

The Revenue will have...

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