Sunday February 23, 2020

Only eleven tax schemes were declared in last eight years

Promoters of tax-efficient financial instruments required to reveal clients to Revenue – but few have

20th May, 2018

New figures from the Revenue Commissioners show that just 11 tax-avoidance schemes were notified by tax practitioners and planners in the last eight years since laws mandating them to do so were introduced.

The mandatory disclosure regime was introduced in the 2010 finance act, and requires ‘promoters’ of tax-based transactions to disclose details of them and the clients that have used them.

Seven notifications were received in 2011, one in 2012, two in 2014 and...

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