Revenue to net €500m from life-assurance probe

The Revenue Commissioners expect to collect about €500 million from tax-evaders by the time they complete their investigation into life-assurance products next year.

28th October, 2006

The Revenue Commissioners expect to collect about €500 million from tax-evaders by the time they complete their investigation into life-assurance products next year.

The amount of the average tax settlement made so far under the probe, which was launched in May 2 005 to uncover ‘‘hot money’’ invested in single premium insurance policies, is about €80,000. This is substantially higher than settlements made under other similar investigations.

The average settlement made under the...

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