Time running out for 'non-resident' tax dodgers
The deadline for the Government’s latest amnesty for tax evaders expires today.
The Revenue Commissioners have estimated that Irish citizens have robbed the Exchequer of £700m by hoarding money in 50,000 illegal non-resident bank accounts.
The Revenue offered these people an amnesty, saying that if they came clean by November 15, they would only have to pay twice the amount of tax owed.
Those who fail to declare their accounts will face hefty interest and penalties, they will be named in the national newspapers and they could face jail terms.
