Revenue Commissioners plan major clampdown on offshore tax evasion


The Revenue Commissioners are preparing for a major clampdown on offshore tax evasion.

Under new agreements, Revenue will soon have access to the details of overseas accounts held by Irish tax payers.

The arrangement comes into effect from next year.

It includes countries previously accused of being tax havens, including Panama, the Cayman Islands and Switzerland.

In an article in today's Irish Times, Revenue have warned that time is running out for people hiding money overseas.