This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here. favicon LAWANDTAX-NEWS.COM
HOME | CONTACT | RECRUITMENT | ABOUT | LEGAL | PRIVACY & COOKIES Join us on Twitter Lowtax Facebook page Join our discussion on LinkedIn Join us on Google+ Delicious Subscribe to the Tax-News RSS Feed


Articles »

Country Home Pages

British Virgin Islands
Hong Kong
Isle of Man
South Africa

Daily Tax Quote

Lowtax Network Sites
Lowtax Network Portal: 'Low-tax' business and investment in the top 50 jurisdictions covered in exceptional detail.
Tax News: Global tax news, continuously updated through the day.
Expat Briefing: A free online publication serving international expatriates and featuring world news, forums, events, in-depth country information and reliable investment and personal taxation guides.
Law & Tax News: Daily news and background data on tax and legal developments for international business.
Offshore-e-com: A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library: One of the web's largest and most authoritative business and investment information sources.
US Tax Network: The resource for free online US taxation information, covering: corporate tax, individual tax, international tax, expatriates, sales and e-commerce tax, investment tax.
Offshore Trusts Guide: OTG publishes news, features and newsletters on the use of offshore trust structures.
TreatyPro: Online tax treaty resource.
Global Incorporation Guide [GIG]: A BSI / Lowtax Network international business smart tool.
Irish FinMin Explains Response To Tax Evasion

by Jason Gorringe,, London Friday, July 14, 2017

Irish Finance Minister Paschal Donohoe has explained the country's approach to tax evasion during a hearing of the European Parliament's PANA Committee, and said Ireland is "a strong supporter of international tax reform efforts."

Donohoe was one of several European finance ministers who appeared before the committee on July 11.

He told the committee that: "The issue of aggressive tax planning by multinational companies is a global problem that requires a global solution." He said that the focus must now be on implementing the recommendations arising from the OECD's base erosion and profit shifting (BEPS) project.

Donohoe pointed out that Ireland was one of the first countries to introduce country-by-country (CbC) reporting requirements, and one of the first to sign the BEPS multilateral instrument that aims at preventing tax treaty abuse. He said he supports the European Commission's proposal for the introduction of mandatory disclosure rules, and hopes that an agreement can be reached on this front.

Donohoe said that Ireland has supported recent work to increase the exchange of information between tax authorities, and emphasized that "remarkable progress" has been made in this area at OECD and EU level. He said the information exchanged "will play a vital role in improving the ability of tax authorities to carry out risk assessment and to target audits and interventions," and will help to reassure citizens.

With regard to the Panama Papers – the leak of which prompted the establishment of the PANA Committee – Donohoe explained that the information contained in the papers "had very limited connection to Ireland."

He said that whenever any such information does become available, it will be examined by the Irish Revenue Commissioners, to determine whether any Irish tax has been avoided and if the tax planning arrangements involved should be challenged. He added that a number of inquiries have been initiated based on data so far analyzed.

Donohoe added that, following the publication of the papers, Ireland introduced legislation to tighten its voluntary disclosure regime to exclude taxpayers using offshore schemes. Those affected were given until May 4, 2017, to make qualifying disclosures under the regime.

Donohoe said that Revenue had received more than 2,500 disclosures prior to the cut-off date, with a value of more than EUR70m (USD80.2m). Revenue is now examining all the disclosures received in further detail.


One of the web's largest and most authoritative business and investment information sources. Alongside topical, daily news on worldwide tax developments, you can receive weekly newswires or access up-to-date intelligence reports on a range of legal, tax and investment subjects.


Our 16 constantly updated intelligence reports cover every important aspect of 'offshore' and international tax-planning in depth, including banking secrecy, the EU's savings tax directive, offshore funds, e-commerce, offshore gaming and transfer pricing. Reports are available for immediate downloading or as subscription services with news pages.

Advertising & Marketing

With over 50,000 qualified readers every month our web-sites offer a number of cost effective, targeted advertising, sponsorship and marketing opportunities:

Display advertising - from 'skyscrapers' to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings

Click here to learn more or contact Charles Bell on +44 (0)1424 205 425 or at and he will put you in touch with your regional rep.

News & Content Solutions

Could your corporate web-site or newsletter benefit from incorporating regularly updated news and content tailored to serve your clients' interests? We can provide a variety of maintenance-free news and content solutions that can be seamlessly integrated and dynamically delivered:

Customised, personalised 'own-brand' news services
Newsletter content and management
News Headlines Tickers

Click here to learn more or contact Charles Bell on +44 (0)1424 205 425 or at and he will put you in touch with your regional rep.

Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.

All rights reserved. © 2017 Wolters Kluwer TAA Limited

All content on this site has been provided by BSIRN.