Irish Revenue publishes 2018 Annual Report

On 9 May 2019, Irish Tax and Customs published their 2018 Annual Report (Link). In addition to several 2018 Irish economy statistics, the report states that identifying, targeting and confronting non-compliance with respect to offshore assets is an integral component of Irish Tax and Customs’ overall compliance framework. To do so, data received under international arrangements for the automatic exchange of information is used to identify and pursue those who have attempted to use offshore accounts, structures or assets to evade or avoid their tax obligations. In 2018, Irish Tax and Customs concluded 217 interventions on cases, which were selected using information received under the Foreign Account Tax Compliance Act (“FATCA”).

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