Sunday July 5, 2020

Revenue pushes for new powers on ‘hot money’

The Revenue Commissioners will demand that confidential financial information of citizens be handed over by fund managers, life assurance companies and government departments.

2nd August, 2008

The Revenue Commissioners will demand that confidential financial information of citizens be handed over by fund managers, life assurance companies and government departments.

Revenue officials are drafting proposals, which form part of a significant extension of its investigation into ‘hot money’ in deposit accounts. Under the regime, managers of ‘collective funds’ such as property syndicates and investments clubs will have to notify the Revenue if they advance a lump-sum payment to an Irish taxpayer....

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