Dáil Éireann Debate, Tuesday - 1 October 2024
113. Deputy Paul Donnelly asked the Minister for Finance the number of compliance interventions made by the large-case high-wealth individuals division of the Revenue Commissioners; and the money recouped as a result of these interventions in 2023 and for first eight months of 2024, in tabular form. [38601/24]
Amharc ar fhreagraI am advised by Revenue that its Large Cases – High Wealth Individuals Division (LC-HWID) was expanded under internal realignment earlier this year. The division now includes three Financial Services branches and has been renamed High Wealth and Financial Services Division. The statistics in the table refer to the original LC-HWID.
LC-HWID had responsibility for the following business areas:
• Management of the tax affairs of High Wealth Individuals;
• Approval and administration of certain pension schemes; and
• Identification of and challenge to tax avoidance transactions.
The details requested by the Deputy are set out in the table for the range of compliance interventions undertaken by LC-HWID. Data is available to June 2024. The Deputy may wish to note that a compliance intervention may not be initiated and closed in the same year.
Table: Compliance interventions Initiated and closed by LC-HWID and yield*
|
Year |
Initiated |
Closed |
Yield |
|
2023 |
498 |
390 |
€57,647,079 |
|
2024 – end June |
387 |
214 |
€33,142,342 |
* Yield includes tax, interest, penalties and also the tax value of losses restricted.
