Revenue's Investigations and Prosecutions Division has confirmed their intention to obtain High Court Orders seeking certain details from Irish Banks.
We understand from Revenue that, in a further phase of its Offshore Inquiry, Revenue intends to seek a number of jurisdiction-based High Court Orders in the Autumn to require Irish clearing banks to disclose the identity of persons who transferred funds via the clearing system to or from foreign (non-Irish owned) financial institutions in those jurisdictions.
Revenue previously got information, using the same High Court procedure, on funds transferred to or from offshore subsidiaries/branches of Irish financial institutions. While details of the orders sought have yet to finalised, priority jurisdictions will include Switzerland and Liechtenstein. The scope of the application is likely to be comprehensive, covering electronic and paper transfers, and to extend over a significant number of back years.